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<Research> M Stanley: STANCHART (02888.HK) 1Q Revenue Beats; TP HKD195
Recommend 2 Positive 3 Negative 2 |
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Morgan Stanley issued a research report stating that STANCHART (02888.HK), supported by its wealth management business, delivered strong revenue performance in the first quarter, exceeding market and the brokers forecasts by 6% and 4%, respectively. The broker noted that STANCHART made an additional provision of USD190 million related to the Middle East conflict, which was partly offset by recoveries and provision write-backs. STANCHART remains cautious on the outlook, but believes the situation is still manageable. Investors will closely monitor macroeconomic conditions. The broker assigned an Overweight rating to STANCHART with a TP of HKD195. (sl/u) 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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