GLONGHUI, September 1 | Bank of America Securities published a rating report stating that Minsheng Bank's net profit for the first half of the year fell 3.5% year-on-year, and profit before provision fell 6.1% year-on-year, falling short of expectations. Net interest income and expense revenue growth continued to improve, but non-interest income fell 79% quarterly, dragging down second-quarter revenue. The bank maintained this year's earnings per share test roughly unchanged, but raised its earnings test per share by 4% to 7% from 2024 to 25, and lowered its target price from HK$2.92 to HK$2.75, maintaining its “outperforming the market” rating.
大行评级｜美银证券：下调民生银行目标价至2.75港元 评级“跑输大市”
Bank Rating｜Bank of America Securities: Lowering Minsheng Bank's target price to HK$2.75 and “outperforming the market”
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