Goldman Sachs: Maintains a 'sell' rating on Hang Seng Bank with a target price of HK$107.
Goldman Sachs released a research report stating that it maintains a "sell" rating on Hang Seng Bank (00011) and sets the target price at HKD 107. The company's performance in the first half of this year met expectations, with earnings per share 3% higher than the bank's expectations. The report stated that Hang Seng did not announce a new buyback announcement today (31st), and the company's management is exploring all possibilities. The current buyback action will end on September 9th this year. Goldman Sachs stated that Hang Seng's revenue growth in the first half of this year was 1% lower than expected; net interest income was 3% lower than expected; non-interest income was 8% higher than expected; cost expenses were 1% lower than expected; pre-provision profit growth was in line with the bank's expectations; and
Goldman Sachs Price Target Raised to $561.00/Share From $513.00 by Morgan Stanley
Goldman Sachs: Stanchart rated "buy", target price of HKD 87.
Goldman Sachs released a research report stating that it maintains a "buy" rating on Standard Chartered (02888). Considering the company's second-quarter profit, it raised its earnings forecast for fiscal years 2024 to 2026 by 4%, 2%, and 1%, and lowered its earnings forecast for fiscal years 2027 and 2028 by 2% and 2%, respectively. It is expected that the company will buy back $2 billion and $1.5 billion in fiscal years 2025 and 2026, respectively, with a target price of HK$87. The report pointed out that Standard Chartered achieved a pre-tax basic profit of approximately $1.8 billion in the second quarter of this year, which was higher than expected by the bank. This was mainly due to operating expenses and provisions lower than expected, and revenue roughly in line with expectations. The management also raised the 20
Goldman Sachs has downgraded East Buy to "sell" with a target price cut of 55% to HK$7.1.
Goldman Sachs released a research report downgrading the rating of Eastbuy (01797) from "Neutral" to "Sell", and lowered the target price from HKD 15.9 to HKD 7.1, citing uncertain growth prospects in the near future after Dong Yuhui's departure and the sale of "Together with Hui", as well as the low operating leverage which may further pressure profit recovery. Goldman Sachs stated that it maintains its forecast for the 2024 fiscal year roughly unchanged, but reduces its total commodity trading volume forecast by 32% to 36%, then lowers its revenue forecast for 2025 to 2027 by 25% to 26%, reflecting the negative impact of Dong Yuhui's departure and June.
Big changes in the landscape of Wall Street! Goldman Sachs (GS.US) stock price soared 31% this year, and its market cap surpassed Morgan Stanley (MS.US) after four years.
Since the outbreak of the pandemic, Goldman Sachs (GS.US) has surpassed its long-time competitor on Wall Street, Morgan Stanley (MS.US), in terms of market cap for the first time.
Goldman Sachs Said to Ready Sale of SRT Bonds on $2B Loan Portfolio - Report
