DBS released a research report stating that it reaffirms the BOCHK (02388.HK) “buy” rating. The compound annual profit growth rate between 2023 and 2026 is expected to be about 4%, and the net interest spread is expected to drop year-on-year in the second half of the year. It is expected that the economic prospects of the Mainland and Hong Kong will stabilize, which may support the mid-term growth of their stock prices. However, the target price was lowered from HK$29.7 to HK$26.3, and the profit forecast for this year and next two years was lowered by about 3% and 5%.
星展：重申中银香港(02388.HK)“买入”评级 目标价下调至26.3港元
DBS: Reiterates Bank of China Hong Kong (02388.HK) “Buy” Rating Target Price Reduction to HK$26.3
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