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<Research>Citi Expects CCB (00939.HK) Higher Div. Return to Bring Long-term Support to Shr Price; Rating Buy
Recommend 11 Positive 13 Negative 5 |
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CCB (00939.HK)'s 1Q25 results were weak, dented by a 16 bps YoY drop in net interest margin and weak fee income, according to a research report issued by Citi Research. PPOP fell 5.8% YoY, a wider decline from 3.5% in the previous quarter. Meanwhile, CCB's net profit after tax decreased 4% YoY in 1Q25 as it maintained a conservative provision level. CCB's H-shares still offer a relatively high dividend yield in the industry, which is still attractive to investors looking for stable income, and is expected to help bring long-term support to the share price performance, Citi Research added. Therefore, the broker rated CCB at Buy, with a target price of $7.28. AAStocks Financial News |
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