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<Research>JPM Tweaks Up STANCHART's TP to HKD270; Middle East Tensions May Pressure Shr Price in Short Term
Recommend 4 Positive 4 Negative 7 |
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JPMorgan has published a report predicting STANCHART (02888.HK) to face short-term stock price pressure, since its UAE business accounted for 2.4% of its assets and 5.6% of its revenue last year, higher than HSBC Holdings' Middle East business at 2% and 3.8%, respectively. While the rising geopolitical risks are likely to dampen market sentiment, JPMorgan maintains a constructive view on STANCHART's medium to long-term outlook. It has rated STANCHART as Overweight and raised its target price slightly from HKD265 to HKD270. AAStocks Financial News |
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