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<Research>HSBC Research Drops ICBC's TP to $6.3, Rating Buy
Recommend 4 Positive 9 Negative 5 |
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HSBC Global Research has issued a research report maintaining a Buy rating on ICBC (01398.HK). According to the report, ICBC's 1Q25 EPS was weaker than expected as it declined by 4.1% YoY, reaching only about 24% of the broker's and the market's full-year earnings forecasts. The bank's performance in net interest income, fee and other income, and cost efficiency were also negative. HSBC Global Research cut its 2025-27 EPS forecasts for ICBC by 2.2%/ 3%/ 4% to reflect reduced net interest margin and other non-interest income forecasts. The broker also trimmed its target price for ICBC's H-shares from $6.6 to $6.3. AAStocks Financial News |
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