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<Hindsight>Brokers' Latest TPs, Views on CCB Post-Results
Recommend
35
Positive
53
Negative
19
CCB (00939.HK) has announced its 2024 results and plans to issue 11.33 billion A-shares to the Ministry of Finance to raise no more than RMB105 billion to replenish core T1 capital.

CCB's H-shares rallied this morning and once hit an intraday high of $7 with a surge of 4.5%. It last traded at $6.94, up 3.7%, on a turnover of $3.01 billion.

Related NewsJPM: 4 State-owned Banks Receive Capital Injection of ~RMB500B, in Line
Listed below are the ratings and target prices from five brokers on CCB as summarized by our reporters:

Broker│Investment Rating│Target Price (HKD)
HSBC Global Research│Buy│8.8->8.9
Goldman Sachs│Buy│7.91
JPMorgan│Overweight│7.55
UBS│Buy│7.4
Citi│Buy│7.28

Broker│View
HSBC Global Research│2024 EPS growth slightly missed, but NIM narrowed significantly with good risk management
Goldman Sachs│Last quarter's net interest income growth beat, and reduced bad debt provisions supported earnings growth
JPMorgan│Last quarter's results basically in line, with asset quality remaining solid
UBS│Last quarter's results largely in line, mortgage loans declined, and retail loan growth slowed
Citi│Last quarter's net interest income drove steady results growth, and capital strength outshone peers'

Related NewsCCB Full-yr NP Adds 0.9% to RMB335.577B, in Line; Final DPS RMB0.206

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