UBS: Raises target price of China Construction Bank Hong Kong (02388.HK) to HK$36.5, reiterates "neutral" rating.

According to the WiseFinance APP, UBS Research Report stated that it is expected that the provisions for impairment of China CITIC Bank International (02388.HK) will remain at a high level, with credit costs reaching 36 basis points in the first half of the year, the same as in the second half of last year. Even though performance in the first half of the year may be strong, UBS still maintains its forecast of a 1% year-on-year decline in net profit for the whole year. The earnings per share forecast for 2025 to 2027 has been raised by 3 to 9%, reflecting strong growth in non-interest income. The target price has been raised from HK$34.5 to HK$36.5, and the "Neutral" rating has been reiterated.