Daiwa: Believes that the stock price of Industrial and Commercial Bank of China has a 60% to 70% probability of increasing in the next 60 days. Target price is 6.9 Hong Kong dollars.
Morgan Stanley released a research report, stating that they believe the stock price of Industrial and Commercial Bank of China (ICBC) may rise in the next 60 days, with an estimated probability of 60% to 70%. They have rated it as "hold" with a target price of 6.9 Hong Kong dollars.
Morgan Stanley predicts that an unexpected cut in deposit rates will support net interest margins, offsetting the negative impact of moderate cuts in loan market quoted rates. The clear policy direction towards supporting bank net interest margins, along with a more rational credit growth and stable interest rate environment, should help stabilize net interest margins and even drive a gradual rebound in them. The bank believes that ICBC offers attractive return opportunities, with a dividend yield of 6.2%.
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