Goldman Sachs: Maintains "buy" rating for Standard Chartered Group, with a Hong Kong stock target price of 242 Hong Kong dollars.

Goldman Sachs released a report stating that Standard Chartered reiterated its 2026 targets during its investor day event from May 19th to 21st, outlining several key structural trends and setting new targets for 2028. The new targets set by management at the event include: a revenue compound annual growth rate of between 5% and 7% from 2025 to 2028; a cost income ratio of approximately 57%; a credit loss rate level of 30 to 35 basis points; a high double-digit compound annual growth rate in earnings per share from 2025 to 2028; a dividend payout ratio of over 30%, with a progressive dividend per share; and an operational range of core Tier 1 capital adequacy ratio of 13% to 14%. The bank expects that improvements in its business mix will support an increase of around 380 basis points in tangible return on equity to achieve the new targets of over 15% by 2028 and around 18% by 2030. The bank maintains its "buy" rating on Standard Chartered, with a 12-month target price of 242 Hong Kong dollars for the Hong Kong stock and a target price of 2260 pence for the London stock.