CICC: Raises target price of HSBC Holdings (00005.HK) to HKD 122, rating "overweight"
According to the Zhixin Finance APP, a research report released by Morgan Stanley stated that after the performance announcement of HSBC Holdings (00005.HK) in the second quarter of 2025, the stock price fell by 5.1%, underperforming the Hang Seng Index (which fell by 3.6%) during the same period, despite pre-tax profits exceeding market expectations by 10% when excluding one-time projects. The bank believes that part of the market disappointment is due to concerns about China Construction Bank's unexpected impairment of $1 billion. The bank has raised its normalized earnings per share forecasts for HSBC in 2025/2026/2027 by 4%/3%/3%. At the same time, it estimates that the total shareholder return over the next 12 months will reach 9.7%, ranking first among financial institutions in the Guangdong-Hong Kong-Macao Greater Bay Area. The target price has been raised from 118 Hong Kong dollars to 122 Hong Kong dollars, with a "hold" rating.
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