Bank of America Securities: Upgraded to Hang Seng Bank (00011) target price to 102 Hong Kong dollars, expecting a 16% year-on-year decline in mid-term profit. Reiterated a rating of "underperforming the market".

According to the Zhixun Finance and Economics APP, Bank of America Securities released a research report stating that it is expected that Hang Seng Bank (00011) will have stable revenue in the first half of the year, reaching 20.4 billion yuan; the decrease in net interest income will be largely offset by the growth in non-interest income. However, its credit costs may double year-on-year, leading to a 16% year-on-year decline in net profit to 8.3 billion Hong Kong dollars during the period, and earnings forecasts for 2025 to 2027 will be lowered by 0 to 3%. The bank has raised its target price for Hang Seng from 92.5 Hong Kong dollars to 102 Hong Kong dollars, reiterating its "underperform" rating.