The Zhitong Finance App learned that Morgan Stanley released a research report stating that it gave Standard Chartered Group (02888) a “gain” rating, downgraded the company's 2024 profit forecast by 2.6%, and raised the 2025 profit forecast by 0.4%, keeping the 2026 forecast unchanged. The target price was raised 7.1% to HK$99.9 from HK$93.3.

The bank pointed out that the increase in Standard Chartered's 2024 profit forecast mainly reflects higher taxes, while also raising the profit before tax (PBT) forecast. The three-year net interest income (NII) forecast was lowered based on lower interest-bearing assets (AIEA). The company's non-net interest income forecast was also raised to reflect improvements in wealth expenses and transaction income. Dama lowered its basic and pessimistic assumptions to HK$106.4 and HK$107, and raised its optimistic hypothesis to HK$168.7 to reflect higher interest rates in a long-term interest rate environment.