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Haitong Int'l Elevates STANCHART (02888.HK) TP to $90.37 as Rev., PBT Beat
2024-05-03 14:54:32
STANCHART (02888.HK)'s 1Q24 revenue and net profit before tax (PBT) beat expectations, Haitong International released a research report saying. Therefore, Haitong International maintained its FY2024/ FY2025 net profit forecasts at US$356 million/ US$397 million each, implying growth rates of 18%/ 12%.

Haitong International kept rating at Outperform, and elevated its target price from $77.53 to $90.37.

STANCHART's FY2024 net interest income guidance remains unchanged at US$10 billion-US$10.25 billion, implying a YoY growth of 5-7%, Haitong International said. The Group also maintains its guidance of low single-digit growth in loans and RWA for FY2024.
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