CICC Raises BANKCOMM TP to HKD8.7; 1Q Results Beat Expectations
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CICC has raised the target price for BANKCOMMto HKD8.7, reflecting a 14.81% increase, following the bank's 1Q results that exceeded expectations. The net profit, pre-provision operating profit, and operating income grew by 3%, 10.3%, and 4.9% YoY, respectively. The report maintains the Outperform rating and keeps the A-share target price at RMB8.9. The growth was attributed to a rebound in NIM, and net profit forecasts for 2026 and 2027 remain unchanged.
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