Date: 2007/11/21 11:28
MARKET TALK: CIMB Starts ICBC At Outperform; Targets HK$7.34
0328 GMT [Dow Jones] STOCK CALL: CIMB starts ICBC (1398.HK) at Outperform with target price HK$7.34. Says ICBC is attractive investment given its M&A potential, imminent re-rating due to its net interest margin and ROE improvement. Tips more negative newsflow for sector until FY08, particularly on macro tightening measures. Adds "despite increased talk of more stringent monetary tightening measures, we are still upbeat on the banking sector's earnings outlook." Says ICBC is most active in seeking M&A deals, it may buck trend, benefit from positive newsflow if new deals arise. CIMB off 3.6% at HK$5.90. (YWM)
Contact us in Hong Kong. 852 2802 7002;
MarketTalk@dowjones.com
(END) Dow Jones Newswires
Subscribe to:
Post Comments (Atom)
1 comment:
Thank you for sharing such great information.
It has help me in finding out more detail about best health insurance
Post a Comment