UBS: STANCHART 1Q Results Beat; Raise TP to HKD227.4
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UBS's research report indicates that STANCHARTexceeded market expectations in its 1Q results, with pre-provision operating profit and profit before tax up 13% and 14% YoY, respectively. Global banking income rose 12% above expectations, while wealth solutions income surged 13%. UBS raised its EPS forecasts for STANCHART for 2026-2028 by 2-3% and increased its target price from HKD221.9 to HKD227.4, maintaining a Buy rating, citing underestimation of long-term growth in the wealth business.
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