Citi Raises HSBC HOLDINGS TP to HKD156.7, Lifts Earnings Forecast
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Citi has raised its target price for HSBC Holdingsfrom HKD153.4 to HKD156.7, maintaining a Buy rating. The update follows HSBC's 1Q results and a market rally, leading to a 1% to 2% increase in EPS estimates for 2026-2028. Citi forecasts a 5% revenue CAGR and a RoTE of 18% to 20%. Net interest income is projected at USD46.2 billion for 2026, while non-interest income is expected to rise by 2% to 5%. Overall, adjusted profit before tax is estimated to be 2% to 6% above market consensus. An investor visit is scheduled for May 20-21.
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