Movement Alert｜BOC HONG KONG Rises 3.6% in Regular Trading, Goldman Sachs Reaffirms Buy Rating with Focus on Special Dividend Plan

Market Focus07-24

On July 24, BOC HONG KONG rose 3.6% in regular trading, trading at HK$50.25/share, with turnover of HK$290 million.

On the news front, Goldman Sachs recently reaffirmed its Buy rating on BOC HONG KONG with a 12-month target price of HK$53.3, projecting second-quarter net profit of HK$10.51 billion, representing a 2% year-over-year increase. The bank maintained its earnings forecasts for the company through 2028 unchanged, while highlighting capital return initiatives and a potential special dividend plan as key catalysts.

Additionally, CICC had previously raised its target price to HK$50.4, citing Southeast Asian business opportunities as a potential new growth engine for the company. Multiple institutions maintain a positive outlook on BOC HONG KONG, with the combination of sustained earnings visibility and special dividend expectations providing support for the share price. Within the Diversified Banks sector, BOC HONG KONG outperformed peers, with HSBC HOLDINGS down 0.99%, BANK OF CHINA down 0.38%, and ICBC down 0.14%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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