Stanchart's capital return guidance has been revised upwards from over $5 billion in the fiscal years 2024 to 2026 to over $8 billion.
According to the China Fortune Finance and Economics APP, Goldman Sachs issued a research report stating a "buy" rating for Stanchart (02888), raised the earnings per share forecast for the company for the years 2024 to 2028 by 4% to 8%, and increased the target price to HK$95. The group's basic pretax profit in the third quarter was $1.8 billion, exceeding both the bank's and market expectations by 15%, mainly benefiting from higher-than-expected revenue and lower-than-expected costs.
Furthermore, the management once again raised the revenue growth guidance for the fiscal year 2024 from over 7% to around 10%, while the market expectations are about 9%. In addition, the capital return guidance has been revised upwards from over $5 billion in the fiscal years 2024 to 2026 to over $8 billion. Finally, the average return on tangible equity (ROTE) target for the fiscal year 2026 has been raised from about 12% to "close to 13%".