Glonghui, March 29 | Bank of America Securities released a report saying that Bank of Communications last year's performance was in line with expectations. AT1 (emergency convertible bonds) net profit before distribution rose 0.7% year-on-year to 92.7 billion yuan, lower than expected. Pre-provision profit fell 1.8% year-on-year, lower than expected. The equity yield fell 0.7 percentage points to 9.7% year-on-year, the dividend ratio stabilized at 32.7%, and the final interest rate was 0.375 yuan per share. The dividend rate for H shares reached 7.7%. Bank of America Securities lowered the stock exchange's profit forecast for 2024-25 by 1% to 4%, and raised its target price for H shares from HK$5.56 to HK$5.96, maintaining its rating as “buy”.
大行评级｜美银：上调交通银行目标价至5.96港元 维持“买入”评级
Major Bank Ratings | Bank of America: Raising Bank of Communications Target Price to HK$5.96 to Maintain “Buy” Rating
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