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<Research>G Sachs Adds CM BANK (03968.HK) TP to $48.96, Raises Profit Forecasts
Recommend 7 Positive 13 Negative 2 |
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Goldman Sachs released a research report raising its 2025 pre-provision operating profit (PPOP)/ net profit forecasts for CM BANK (03968.HK) by 3.4%/ 2.7% each, following the release of CM BANK's 2024 results, reflecting slightly improved net interest margin and updated guidance of 8% YoY loan growth. Therefore, the broker added its target price to $48.96 from $47.36, with rating at Buy. Goldman Sachs believed that the lower-than-expected performance of CM BANK is mainly due to its lower-than-expected dividend, as both 2024 and 1H25 dividends were largely flat. This may pose a potential downside risk to return on equity (ROE) as a result of ongoing capital accumulation, assuming else equal. AAStocks Financial News |
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