Bank of America Securities released a research report, $CCB (00939.HK)$ In the first half of this year, the net income decreased by 1.8% year-on-year, and the core profit decreased by 4% year-on-year, both of which performed in line with the bank's expectations. Considering the strong balance sheet of China Construction Bank Corporation and the attractive dividend yield, the cost control partially alleviated the pressure on income, making the stock still a defensive core selection. Bank of America Securities has raised the profit forecast for China Construction Bank Corporation for the 2024 to 2026 fiscal years by up to 4%, and its listed in Hong Kong stock target price has been raised from 7 Hong Kong dollars to 7.08 Hong Kong dollars, reiterating a “buy” rating.
大行评级｜美银：上调建设银行目标价至7.08港元，重申“买入”评级
Major bank rating: Bank of America Merrill Lynch raised the target price of China Construction Bank Corporation to HKD 7.08 and reiterated the "buy" rating.
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