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UBS Group: Bank Of China has the strongest revenue growth among state-owned domestic banks, with a Target Price of 4.7 Hong Kong dollars.
UBS Group published a Research Report stating that the Net income of Bank Of China (03988) in the first quarter of the 2025 fiscal year decreased by 2.9% year-on-year, slightly lower than UBS Group's expectations, and lagged behind Agricultural Bank Of China (01288) and Bank Of Communications (03328). Nevertheless, Bank Of China achieved the strongest revenue growth among state-owned banks. However, operating expenses increased significantly by 9.8%, weaker than UBS Group's expectations; the effective tax rate rose by 3.5 percentage points year-on-year to 20%, far exceeding UBS Group's expectations. UBS Group estimates that the market's reaction to Bank Of China's first quarter performance is neutral to slightly positive. The bank has a Target Price of HKD 4.7 and gives a "Buy" rating.
73903871 : UBS Group's stock price has plunged; are there any issues with its fundamentals?
RenenoMirai OP 73903871 : Dont think so, Wait until P/B under 1 then topup