
BOCI Cuts PSBC TP to HKD6.18, Rating Buy

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BOCI has reduced the target price for PSBCfrom HKD6.62 to HKD6.18 while maintaining a Buy rating. The bank reported a slight profit growth of 1.9% YoY in 1Q26, compared to 1.1% YoY for the full year 2025. The net interest margin (NIM) was 1.65% in 1Q26, slightly down from 1.66% in 2025. BOCI noted that PSBC's asset quality remains solid and its valuation is attractive. Short selling data indicates a ratio of 42.049%.
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