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<Research>HTSC Lifts HSBC HOLDINGS (00005.HK) TP to $98.88 on Strategic Transformation Advancement, Shr Buyback
Recommend 21 Positive 31 Negative 15 |
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HSBC HOLDINGS (00005.HK)'s 2024 revenue fell 0.3% YoY to US$65.854 billion, a 2.7 ppts slower growth rate than the previous 3 quarters, Huatai Securities issued a research report saying. Net profit attributable to ordinary shareholders rose 2.2% YoY to US$22.917 billion, a 1.6 ppts higher increase than the previous 3 quarters. Huatai Securities believed that HSBC HOLDINGS has an outstanding interest rate advantage, while its organizational structure adjustment enhanced operational efficiency. Therefore, the broker kept rating at Buy, and lifted its target price from $83.56 to $98.88. In view of the volatility of other non-interest growth rates, Huatai Securities forecasted HSBC HOLDINGS' net profit attributable to parent company to be US$22.739 billion/ US$23.096 billion/ US$23.563 billion from 2025 to 2027 each, and was optimistic about the advancement of its strategic transformation and share buybacks. AAStocks Financial News |
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