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<Research>HTSC Elevates HSBC HOLDINGS (00005.HK) TP to $143.08 as Stable Net Interest Margin & Strong Financial Position Drive Steady Results Growth
Recommend 25 Positive 38 Negative 20 |
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HSBC HOLDINGS (00005.HK) reported steady results growth driven by stabilized net interest margins and strong financial position, according to Huatai Securities' research report. On an adjusted caliber, HSBC HOLDINGS' 1-3Q25 revenue increased by 4.8% YoY, while profit before tax rose by 4.5% YoY, representing a deceleration of 0.9/ 0.6 ppts from 1H25 respectively. The Board approved a third dividend of US$0.1 per ordinary share for the financial year ending 31 December 2025, implying a total dividend of approx. US$1.72 billion. The Company raised its 2025 ROTE guidance to potentially exceed 15% (previously around 15%), and increased its 2025 net interest income guidance for the banking book from US$42 billion to US$43 billion. Given the operational efficiency enhancement from organizational restructuring, the broker kept rating at Buy. Huatai Securities believed that HSBC HOLDINGS' strategic positioning and structural adjustments resonate with the Hong Kong capital market. Therefore, the broker assigned a target PB ratio of 1.5x for 2026, and elevated its target price from $134.83 to $143.08. AAStocks Financial News Website: www.aastocks.com |
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