Morgan Stanley: Raises target price for BANK OF CHINA (03988) to 6.3 Hong Kong dollars with a "hold" rating.
The bank has lowered its forecast for net interest margin for the years 2025 to 2027, while raising its forecast for fee income, due to higher-than-expected growth in fee income in the third quarter of 2025.
Morgan Stanley released a research report stating that it has revised its profit forecast for BANK OF CHINA (03988) based on the bank's performance in the third quarter of 2025. The forecast for net interest margin for the years 2025 to 2027 has been lowered, while the forecast for fee income has been raised due to higher than expected growth in fee income in the third quarter of 2025. As a result, the bank's net profit forecast for 2025, 2026, and 2027 has been raised by 0.9%, 1.4%, and 1.1% respectively, and the target price for Bank of China has been increased from 5.9 Hong Kong dollars to 6.3 Hong Kong dollars, with a rating of "hold."
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