Bank of Communications 3Q Earnings Seen Boosted by CXMT Gain
Dow Jones10-15 12:41
0441 GMT - Bank of Communications' 3Q earnings are likely to be strong, helped by a CXMT mark-to-market gain and stable net interest margin and asset quality, Citi analyst Judy Zhang says in a note. Zhang expects earnings growth to accelerate to about 9.3% on year, likely the second-highest among big banks, which could lift full-year 2026 earnings growth. The CXMT gain could boost revenue by a high-single-digit percentage and earnings by a high-teens percentage, she says. Citi opens a 30-day upside catalyst watch and keeps its buy rating with a target price of 10.31 yuan. Shares are up 1.0% at 8.08 yuan.
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