Goldman Sachs Adjusts HSBC Holdings (00005) Price Target to HK$192, Keeps Buy Rating, Expects Slower Growth in Non-Banking Net Interest Income for Q3
Stock News
5 hours ago
Goldman Sachs has issued a research report adjusting its price target for HSBC Holdings (00005) to HK$192 while maintaining a "Buy" rating.
The investment bank forecasts that HSBC Holdings will report core pre-tax profit of US$10.4 billion for the third quarter, which is 2% above market expectations, though growth in non-banking net interest income is expected to slow following a strong performance in the second quarter.
The bank also anticipates that the scale of share buybacks will be reduced to US$500 million, reflecting continued loan growth as well as the negative impact of a steeper yield curve on other comprehensive income.
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