---
title: "In \"Major Banks,\" CICC raised the target price of HSBC Holdings to HKD 170.8, with last quarter's performance exceeding expectations"
description: "CICC released a report stating that HSBC HOLDINGS' fourth-quarter performance exceeded expectations, with a positive outlook for the next three years. Last year, adjusted operating income was USD 71 b"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/277163294.md"
published_at: "2026-02-27T08:11:33.000Z"
---

# In "Major Banks," CICC raised the target price of HSBC Holdings to HKD 170.8, with last quarter's performance exceeding expectations

> CICC released a report stating that HSBC HOLDINGS' fourth-quarter performance exceeded expectations, with a positive outlook for the next three years. Last year, adjusted operating income was USD 71 billion, a year-on-year increase of 5.3%; net profit was USD 27.8 billion, a year-on-year increase of 12.5%. The company expects revenue to grow annually from 2026 to 2028, achieving a 5% annual growth rate in 2028. The target price has been raised by 25% to CNY 170.8, maintaining an "outperform" rating

CICC published a report stating that HSBC HOLDINGS (00005.HK) exceeded expectations in its fourth-quarter performance, with a positive outlook for the next three years. Last year, adjusted (excluding special items) operating revenue was USD 71 billion, a year-on-year increase of 5.3%; the full-year adjusted net profit attributable to ordinary shareholders was USD 27.8 billion, a year-on-year increase of 12.5%, surpassing both the bank's and market expectations, mainly due to resilient interest margins and better-than-expected wealth management income.

The report indicated that the company announced performance guidance for 2026 to 2028, proposing that revenue can achieve year-on-year growth each year, with a target of 5% year-on-year growth by 2028, and adjusted ROTE exceeding 17% each year. Considering the controllable asset quality, the company's 2026 operating revenue forecast remains largely unchanged, while the net profit forecast is raised by 4% to USD 27.9 billion; taking into account a more moderate interest rate environment, the company's 2026 operating revenue forecast is raised by 4% to USD 75.7 billion, and the net profit forecast is raised by 11% to USD 30.2 billion. Comprehensive consideration of the company's fundamentals and the medium-to-long-term interest rate environment leads to a 25% increase in the target price to HKD 170.8, maintaining an "outperforming the industry" rating

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.