Damo released a research report stating that it maintains Hang Seng Bank (00011.HK)'s “in sync with the market” rating, and considering Hang Seng's lower profit forecast, the basic situation value was lowered by 8%, and the target price was lowered by 1% to HK$89.7 from HK$90.5. However, due to limited room for rising net spreads and declining credit quality, which drive higher long-term returns, Damo also increased the scenario values of Hang Seng bear and bull markets by 7% and 21%, respectively.
大摩：维持恒生银行(00011.HK)“与大市同步”评级 目标价降至89.7港元
Tama: Maintaining Hang Seng Bank's (00011.HK) “In sync with the market” rating, the target price was reduced to HK$89.7
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