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<Research>BofAS Lifts ICBC's TP to HKD7.6; 1Q Growth Solid
Recommend 13 Positive 14 Negative 7 |
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ICBC (01398.HK) delivered solid growth in 1Q26, with net profit before additional tier-1 (AT1) bond distributions growing by 3.3% YoY to RMB86.9 billion, according to a report from BofA Securities. Meanwhile, ICBC's core earnings grew by 9.2% YoY, accounting for 29% of BofA Securities' FY26 forecast. The core tier-1 capital adequacy ratio declined by 31 bps QoQ to 13.26%. BofA Securities has reiterated a Buy rating on ICBC and raised its target price from HKD7.3 to HKD7.6. Auto-translated by AI AASTOCKS Financial News |
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