M Stanley Expects HSBC HOLDINGS Share Price to Rise Relative to Country Index in Next 15 Days
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HSBC HOLDINGS' 3Q results showed resilient wealth management fund inflows, while the group is expected to have greater capital flexibility by 2027. Rising deposit competition will pressure NIM, but HSBC remains in a better position than many peers. The broker believed the valuation remains attractive relative to Hong Kong and ASEAN financial stocks.
The broker estimated the probability of this scenario occurring at around 70-80% (i.e. "very likely"). The TP is HKD173 with an Overweight rating.