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<Research>Citi Rates CCB (00939.HK) at Buy on Attractive Valuation
Recommend 12 Positive 10 Negative 8 |
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CCB (00939.HK) recorded a 13% YoY increase in pre-provision operating profit (PPOP) in 1Q26, accelerating from 5% in 4Q25, driven by a rebound in net interest margin (NIM), strong trading gains, decent fee income and improvement in the cost-to-income ratio (CIR), Citi Research issued a research report saying. Citi Research believed that CCB's 1Q26 PPOP will beat its expectation, while earnings growth was in line with forecast, ranking second and third respectively among large banks. The broker was encouraged by the significant rebound in CCB's NIM, and believed that its valuation is attractive. Therefore, Citi Research rated CCB's H-shares at Buy, with a target price of $9.88. Auto-translated by AI AASTOCKS Financial News |
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