1019 GMT - China Merchants Bank's shares are likely to outperform near term, DBS Group Research analyst Manyi Lu writes in a note. The lender's stock tends to be more sensitive to China's economic progress than that of its peers, and given that Beijing's recently announced stimulus package has exceeded market expectations, Lu thinks the stock could make sharp gains. DBS raises FY 2024-2025 fee income estimates for China Merchants Bank to reflect expected growth in the A-shares market, and lowers cost-of-equity estimates to reflect a lower interest-rate environment. DBS retains a buy rating on the bank, raising its H-share target to HK$52.20 from HK$37.50, and its A-share target to CNY50.90 from CNY36.60. Shares closed at HK$45.35 and CNY37.61 respectively. (kimberley.kao@wsj.com)
(END) Dow Jones Newswires
October 03, 2024 06:19 ET (10:19 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。