Citic Bank International: Raises Industrial and Commercial Bank of China (01398.HK) target price to 8.34 Hong Kong dollars, maintains "buy" rating.

According to the Zhixun financial app, CCB International released a research report stating that Industrial and Commercial Bank of China (01398.HK) achieved a 3.3% year-on-year growth in net profit attributable in the third quarter of 2025, an increase compared to the 1.4% growth in the second quarter. The net interest margin for the first three quarters of 2025 was 1.27%, down from 1.3% in the first half of the year, a decrease of 15 and 12 basis points respectively from the end of 2024. Based on a price-to-book ratio of about 0.7 times in 2025, CCB International has raised the target price for ICBC from HK$7.15 to HK$8.34; maintaining a "buy" rating.