Re: HSBC 02 (0005) (Jun 10 - Dec 18)
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<Research Report>M Stanley: HSBC HOLDINGS 1Q Adjusted Profit Tops Estimates; Expects Market to Revise Up Forecast
HSBC HOLDINGS (00005.HK) announced at midday its first quarter profit.
Morgan Stanley, in its report, said that the bank's quarterly adjusted profit of US$5.94 billion was nearly 12% above its estimates.
This was mainly due to decent wealth management business. Even though the bank's costs were 2% higher, its impairments were at a low level.
CET1 ratio was improved to 14.3% during the period from that of 13.6% in 4Q16, higher than the estimated 13.7%.
The broker believes HSBC HOLDINGS share price to fare well and the market will also revise up the EPS forecast for the stock.
The rating was maintained at Overweight with a target price of $70.
Source: AAStocks Financial News
<Research Report>M Stanley: HSBC HOLDINGS 1Q Adjusted Profit Tops Estimates; Expects Market to Revise Up Forecast
HSBC HOLDINGS (00005.HK) announced at midday its first quarter profit.
Morgan Stanley, in its report, said that the bank's quarterly adjusted profit of US$5.94 billion was nearly 12% above its estimates.
This was mainly due to decent wealth management business. Even though the bank's costs were 2% higher, its impairments were at a low level.
CET1 ratio was improved to 14.3% during the period from that of 13.6% in 4Q16, higher than the estimated 13.7%.
The broker believes HSBC HOLDINGS share price to fare well and the market will also revise up the EPS forecast for the stock.
The rating was maintained at Overweight with a target price of $70.
Source: AAStocks Financial News