Morgan Stanley: Believes that ICBC's stock price will show absolute growth in the next 60 days, with a target price of HKD 7.6

Morgan Stanley released a research report stating that it believes the stock price of ICBC will show absolute growth in the next 60 days. Morgan Stanley estimates that the probability of this scenario occurring is about 70% to 80% (i.e., "very likely"). The rating is "Overweight," with a target price of HKD 7.6. Morgan Stanley expects that bank stock prices will be supported by seasonal capital inflows and will see more upside potential before the end of this year. Moderate but stable credit demand should stabilize financial asset yields and bank net interest margins, supporting revenue and profit growth in the coming quarters. It is expected that ICBC will achieve another quarter of positive profit growth in the third quarter of this year, and its 6.1% dividend yield provides an attractive return opportunity