BofA Securities: Agricultural Bank of China (01288.HK) investment rating lowered to "neutral" Target price raised to HK$5.81

Wisdom Financial APP learned that Bank of America Securities released a research report stating that it has raised its profit forecast for Agricultural Bank (01288.HK) for the years 2020 to 2027 by 1% to 2%, reflecting an increase in return on equity forecast to 10%. The target price has been raised from HK$5.7 to HK$5.81. However, the investment rating has been downgraded from "buy" to "neutral", based on the fact that Agricultural Bank has significantly outperformed its industry peers in terms of stock price and has an unattractive dividend yield.