Jefferies released a research report saying that although industry concerns about real estate still exist, the peak of the provision cycle, cross-border opportunities, and openness to shareholder returns made BOCHK (02388.HK) popular with investors and positive views on its net interest income outlook. The loan growth in the first quarter was better than the market, and the target price was raised from HK$24 to HK$26.5, giving it a “buy” rating. Jefferies added that in terms of return on capital, the dividend payout ratio was 54% last year, and management is open to other possibilities and may be repurchased in the future.
富瑞：予中银香港(02388.HK)“买入”评级 目标价上调至26.5港元
Jefferies: The target price for the “buy” rating for BOCHK (02388.HK) was raised to HK$26.5
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