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<Research>Citi Upgrades BANK OF E ASIA to Buy, Raises TP to HKD16
Recommend 2 Positive 2 Negative 0 |
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BANK OF E ASIA (00023.HK) announced its latest strategic guidance during its results conference, aiming to raise its ROE target to 7% by 2028, compared to 3.1% in 2025, with market expectations at 5.1%, Citi said in a research report. Citi noted that BANK OF E ASIA's dividend target for 2028 is doubled from 2025 level, implying a DPS of approximately HKD1.2 by 2028. It forecast that ROE will reach 6% by then, which is lower than the management's target but still well above the market's general forecast of 5.1%. Having been recently included in the Hang Seng Composite Index, BANK OF E ASIA could potentially be included in the Southbound Stock Connect in the future. Therefore, Citi upgraded BANK OF E ASIA from Neutral to Buy, raising the target price from HKD14.9 to HKD16. AASTOCKS Financial News URL: www.aastocks.com |
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