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<Research>BofAS Axes TP for BANK OF CHINA (03988.HK) to HKD5; 2025 NP Slightly Misses
Recommend 33 Positive 54 Negative 36 |
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BofA Securities' research report covered BANK OF CHINA (03988.HK)(601988.SH), which recorded a net profit of RMB243 billion before AT1 distribution in 2025, representing a YoY growth of 2.2%, which was 0.7% below the broker's forecast. Core earnings grew by 1.6% YoY, exceeding forecasts by 1.9%. The annual DPS was RMB0.226, with dividend yields for H shares and A shares at 5.2% and 4%, respectively. The broker adjusted its earnings forecasts for 2026-27 by +/-1% and axed the TP for BANK OF CHINA's H shares by 4% to HKD5 and the TP for A shares by 8% to RMB5.6, reflecting earnings adjustment and rollover of average ROE to 2026-28. A Neutral rating was kept. The broker preferred ICBC (01398.HK) and CCB (00939.HK) for their better earnings quality. This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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