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<Research>HTSC Trims CM BANK (03968.HK) TP to $53.93, Rating Overweight
Recommend 8 Positive 10 Negative 3 |
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CM BANK (03968.HK)'s 1Q25 net profit/ operating income/ PPOP fell 2.1%/ 3.1%/ 4% YoY each, with growth rates 3.3/ 2.6/ 4.4 ppts slower than 2024, according to Huatai Securities' research report. The Company's 1Q25 results were volatile, mainly due to a decline in investment income and a marginal decrease in interest spread. With a moat effect in CM BANK's retail strategy, Huatai Securities believed that the Company's operation will improve. Coupled with the optimization in the cost of debt and stable asset quality, the broker kept rating at Overweight for CM BANK's H-share, and trimmed its target price to $53.93 from $56.06. AAStocks Financial News |
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