JPMorgan Gives Agricultural Bank of China "Overweight" Rating with HK$7.35 Target Price

Stock News10-28 14:10

JPMorgan has released a research report stating that following the expiration of the restricted period, it has upgraded Agricultural Bank of China (ASX: 01288) from "Not Rated" to "Overweight," assigning a target price of HK$7.35.

The bank forecasts that Agricultural Bank of China's earnings per share will grow by 5.9%, 5.2%, and 5.4% in 2026, 2027, and 2028, respectively.

JPMorgan notes that Agricultural Bank of China's asset quality has improved, with its non-performing loan provision coverage ratio being the highest among the four major Chinese banks, providing greater buffer space for future earnings.

Additionally, the bank has relatively low overseas exposure, making it less susceptible to overseas market recession risks.

However, Agricultural Bank of China's core tier-one capital adequacy ratio is relatively low, and its risk-weighted asset growth is relatively high.

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