<div id="readability-page-1"><div><p>BofAS said in a research report that ICBC (01398.HK)<span> </span><span> +0.084 (+1.229%)  </span> <span> Short selling $236.26M; Ratio 33.241%  </span>  delivered solid growth in the first quarter. Net profit before additional tier-1 (AT1) bond distributions amounted to RMB86.9 billion, up 3.3% YoY. Core earnings increased 9.2% YoY, accounting for 29% of BofAS' full-year fiscal 2026 forecast. The core tier-1 capital adequacy ratio declined 31 bps QoQ to 13.26%.</p><p>In light of the above results, BofAS raised its earnings forecasts for ICBC for 2026 to 2028 by 2% to 3%. The TP for ICBC H-shares was lifted from HKD7.3 to HKD7.6, while the TP for ICBC (601398.SH)<span> </span><span> -0.020 (-0.268%)  </span>  A-shares was raised from RMB8.15 to RMB8.48. The broker reiterated its Buy rating on ICBC H-shares and upgraded the A-share rating from Neutral to Buy. (hc/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-04 16:25.) (A Shares quote is delayed for at least 15 mins.)</p></div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p></div>

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<p>BofAS has raised its target price for ICBC H-shares from HKD7.3 to HKD7.6 following solid first-quarter growth, with net profit before AT1 bond distributions reaching RMB86.9 billion, a 3.3% YoY increase. Core earnings rose 9.2% YoY, contributing to 29% of BofAS' fiscal 2026 forecast. The core tier-1 capital adequacy ratio decreased to 13.26%. BofAS upgraded its earnings forecasts for ICBC for 2026-2028 by 2% to 3% and reiterated a Buy rating on H-shares while upgrading A-shares from Neutral to Buy.</p>

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BANK OF AMERICA CORPORATION DEP SHS REP 1/1000TH NON CUM PFD SER SS

BANK OF AMERICA CORPORATION 4.125%DEP SH REP 1/1000 PFD SER PP USD25

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BofAS Raises ICBC  TP to HKD7.6, Solid 1Q Growth