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<Research>G Sachs Downgrades STANCHART (02888.HK) to Neutral, on Lower Upside Potential Relative to Peers
Recommend 23 Positive 44 Negative 17 |
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Goldman Sachs released a research report downgrading STANCHART (02888.HK) from Buy to Neutral, believing that STANCHART's upside potential is relatively low compared to its peers. However, the broker kept its target price for STANCHART's H-shares at $95. Goldman Sachs explained that the downgrade for STANCHART is mainly due to the fact that its valuation has caught up with HSBC HOLDINGS (00005.HK); significantly higher-than-average growth in non-interest income during the year, which poses a risk to growth in FY2025; and the start of interest rate cuts by central banks, which resulted in a relatively low structural hedge book, etc.. AAStocks Financial News |
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