Standard Chartered 2888

Re: Standard Chartered 2888

Postby winston » Tue Jan 17, 2017 3:14 pm

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Why Is Standard Chartered Soaring?

By Shuli Ren

The British pound is tumbling again this week on reports that Prime Minister Theresa May will announce Britain is seeking a “clean and hard Brexit” in a speech scheduled for Tuesday.

A hard Brexit is generally considered bad for London’s banks but buying Standard Chartered and HSBC, who earn a majority of their profits in Asia, can be a good hedge against the struggling currency.

In addition, Standard Chartered has been a laggard, thus a really cheap hedge. Whereas HSBC has risen close to 40% since Brexit, Standard Chartered has gained only 15.3% in the same period, in line with the Hang Seng Index‘s rise.


Standard Chartered may pleasantly surprise investors on February 24 when it releases earnings. This stock may also be added to the Hang Seng Index during the benchmark index’s March review, traders say.


Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... d-soaring/
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Re: Standard Chartered 2888

Postby winston » Thu Feb 02, 2017 3:29 pm

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<Research Report>G Sachs Expects STANCHART To Resume Div in This FY; Target Lifted to $70

Goldman Sachs, in its report, increased its FY16-FY18 EPS estimates on STANCHART (02888.HK), mainly to reflect expectations of higher USD rates.

The broker lifted the target price from $68 to $70, with rating Neutral.

The broker expected three rate hikes in the US this year, and given 45% of rate-sensitive assets of STANCHART are in USD/HKD, the broker expected the bank to be a beneficiary amid a strong USD tide, thus lifted the EPS forecasts and target prices.

Goldman Sachs expected a 13.7% CET1 for FY16, expecting to recommence dividend payout in the near term, possibly in this financial year. The broker expected STANCHART's 2017/18 DPS to be US$0.25/US$0.4.

Source: AAStocks Financial News
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Re: Standard Chartered 2888

Postby winston » Fri Feb 03, 2017 11:39 am

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<Research Report>Deutsche Lifts STANCHART Target to $59; Reiterated Sell

Deutsche Bank, in its report, said that STANCHART (02888.HK)'s share performance outperformed European, Hong Kong and global banks by 16%-21%.

However, the research house believed that this did not in line with the performance of STANCHART.

Deutsche Bank said that even though STANCHART may benefit from the U.S interest rate hike, such increase in revenue has been factored in.

In addition, consensus forecasts for costs were too optimistic. The AT1 coupon costs for the bank will be increased in 2017-18, with 24% downside in share price.

The rating was reiterated at Sell, yet the target price was raised to $59 from $53.

Source: AAStocks Financial News
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Re: Standard Chartered 2888

Postby winston » Mon Feb 20, 2017 10:33 am

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Time To Sell StanChart: Morgan Stanley

By Shuli Ren

Standard Chartered (2888.Hong Kong/SCBFF) has done very well this year, already up 26.5% as of last Friday’s close.

But has the rally gone too far? Morgan Stanley estimates there is at least 80% probability of this stock falling in the next 60 days.

Analyst Anil Agarwal wrote:

While we are building in strong revenue pickup from 2017 onwards and lower credit cost, we struggle to reach an ROE of 6% even in 2019.

Given valuations, we would rather own other HK / Asian banks where ROE’s are much higher and will remain so if Asia / China economies hold up well for the next three years (which STAN is pricing in). At 0.75x 2017e book, stock is pricing in only the upside in our view.

StanChart tumbled 3.6% on Monday morning after Morgan Stanley’s warning.

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... n-stanley/
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Re: Standard Chartered 2888

Postby winston » Wed Apr 05, 2017 10:55 am

March 9, 2017

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<Research Report>Citi Trims STANCHART Target to $84; Kept Buy


Citigroup said in its report that the economic performance of emerging markets were better than expected and it was optimistic about STANCHART (02888.HK)'s future revenue prospects.

The growth momentum of the bank in the fourth quarter of last year in Asian markets, such as Hong Kong and Singapore, continued into the first quarter of this year.

Coupled with the stock market faring well, the bank's wealth management business was benefited.

The broker said that STANCHART is still at the initial recovery phase. It lowered the pre-tax profit forecast by 7% for this year while lifting that of 2018 by 2%.

This year's return on equity remained low at around 4.6% and was expected to bounce back to 7.2% and 10% in 2018 and 2020.

The target price was slightly cut to $84 from $87 with rating maintained at Buy.

Source: AAStocks Financial News
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Re: Standard Chartered 2888

Postby winston » Wed Apr 05, 2017 11:23 am

March 2, 2017

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<Research Report>BofAML Expects STANCHART To See Positive Pivot with Strong Profit Growth in Future

Bank of America Merrill Lynch, in its report, reiterated STANCHART (02888.HK) at Buy with a target price of 900 pence (equivalent to approximately HK$86.65).

The research house said that the group's focus is now at revenue growth which is expected to see positive pivot.

The bank may swing to profit starting from this year with strong EPS growth in the future.

2017-2019 adjusted diluted EPS is expected to reach US$0.59/0.79/0.94.

The broker said that despite high fourth quarter costs last year, this was seasonal.

The group's 2017 costs should be able to normalize. With the recovery of commodity prices, the impairment charge is set to decline when both non performing loans and watch-list loans become better.

Source: AAStocks Financial News
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Re: Standard Chartered 2888

Postby winston » Thu Apr 27, 2017 8:43 am

Standard Chartered almost doubles first-quarter profit as bad loan losses improve

Decline in bad loan provision a major factor, but improvement in Hong Kong retail and private banking plays a part

Standard Chartered reported pre-tax profit of US$1 billion for the first three months, up 94 per cent from US$589 million in the same period a year earlier, as it continues to recover from its catastrophic 2015.


The most significant reason for the bank’s rise in profits, however, was a substantial decline in the charges it set aside for bad loans in the first quarter. These were just US$198 million, US$492 million lower than the last three months of 2016.


Source: SCMP

http://www.scmp.com/business/banking-fi ... profit-bad
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Re: Standard Chartered 2888

Postby winston » Fri Apr 28, 2017 9:10 am

<Post Result>Brokers' Latest Ratings & TPs on STANCHART (Table)

STANCHART (02888.HK) once rose about 4% in the early trading to $75 at most.

After close yesterday, STANCHART said for the quarter ended March 2017, basic profit before tax soared 94% yearly to US$1.045 billion, beating market expectation.

During the period, revenue grew 8% to US$3.608 billion.

6 brokers listed their latest ratings and target prices:

Brokers/ Ratings/ Target prices (HK$)
JPMorgan/ Neutral/ 80
UBS/ Neutral/ 735 pence (equivalent to HK$73.5823)
Morgan Stanley/ Underweight/ 55->70
Goldman Sachs/ Neutral/ 68->70
Deutsche Bank/ Sell/ 61->64
Credit Suisse/ Underperform/ 60

Source: AAStocks Financial News
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Re: Standard Chartered 2888

Postby winston » Fri Apr 28, 2017 9:11 am

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<Research Report>M Stanley Lifts STANCHART (02888.HK) Target to $70; Kept Underweight

Morgan Stanley, in its report, said STANCHART (02888.HK)'s loan impairment charge of US$198 million in 1Q (about 30bps cost of risk) was a standout beat.

The broker said StanChart has seasonally low bad debts in 1Q, and management "remain cautious about credit conditions".

The broker lifted the 2018-19 EPS forecast by about 10% to US$0.79/US$0.94, and lifted the target price from HK$55 to HK$70, equivalent to 0.7x 2018 TNAV (estimate).

However, the current valuation level is not attractive, thus the broker kept the stock at Underweight.

Source: AAStocks Financial News
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Re: Standard Chartered 2888

Postby winston » Fri Apr 28, 2017 9:11 am

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<Research Report>M Stanley Lifts STANCHART (02888.HK) Target to $70; Kept Underweight

Morgan Stanley, in its report, said STANCHART (02888.HK)'s loan impairment charge of US$198 million in 1Q (about 30bps cost of risk) was a standout beat.

The broker said StanChart has seasonally low bad debts in 1Q, and management "remain cautious about credit conditions".

The broker lifted the 2018-19 EPS forecast by about 10% to US$0.79/US$0.94, and lifted the target price from HK$55 to HK$70, equivalent to 0.7x 2018 TNAV (estimate).

However, the current valuation level is not attractive, thus the broker kept the stock at Underweight.

Source: AAStocks Financial News
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