---
title: "《大行》摩通：匯控管理層更清晰闡述 2026-2028 年收入增長軌跡"
description: "摩根大通報告指出，滙豐控股 2025 年第四季業績超出預期，推動股價上漲 6%。管理層清晰闡述 2026-2028 年收入增長軌跡及淨利息收入增長驅動因素，緩解市場對科技投資不足的憂慮。摩通維持匯控「增持」評級及目標價 165 元，預計股價將維持強勢，下一催化劑為五月的投資者日。"
type: "news"
locale: "zh-HK"
url: "https://longbridge.com/zh-HK/news/277150708.md"
published_at: "2026-02-27T06:06:04.000Z"
---

# 《大行》摩通：匯控管理層更清晰闡述 2026-2028 年收入增長軌跡

> 摩根大通報告指出，滙豐控股 2025 年第四季業績超出預期，推動股價上漲 6%。管理層清晰闡述 2026-2028 年收入增長軌跡及淨利息收入增長驅動因素，緩解市場對科技投資不足的憂慮。摩通維持匯控「增持」評級及目標價 165 元，預計股價將維持強勢，下一催化劑為五月的投資者日。

摩根大通發表報告指，滙豐控股 (00005.HK) 2025 年第四季業績及中期有形股本回報率 (ROTE) 指引超出預期，推動股價於 2 月 25 日下午時段上漲 6%，跑贏恒指 6 個百分點。整體而言，業績簡報會傳遞正面訊息，管理層更清晰闡述了 2026-2028 年收入增長軌跡、淨利息收入增長驅動因素，以及實現匯控業務協同效應的路線圖。

此外，匯控管理層對成本的説明有助緩解市場對科技與人工智慧等關鍵領域投資不足的憂慮。摩通預期匯控股價將維持強勢，下個催化劑為五月舉行的投資者日。摩通維持匯控「增持」評級及目標價 165 元。

### Related Stocks

- [HSBH.US - HSBC Holdings plc ADRhedged](https://longbridge.com/zh-HK/quote/HSBH.US.md)
- [HSBC.US - 滙豐](https://longbridge.com/zh-HK/quote/HSBC.US.md)
- [00005.HK - 匯豐控股](https://longbridge.com/zh-HK/quote/00005.HK.md)

## Related News & Research

| Title | Description | URL |
|-------|-------------|-----|
| Daily Debrief: What Happened Today (Feb 26) | Economists have raised Singapore's 2026 growth forecast to 3.6%, with headline inflation projected at 1.5%. PM Wong note | [Link](https://longbridge.com/zh-HK/news/277023518.md) |
| Golf-New Zealand's Ko balancing fatigue with Grand Slam ambition | Lydia Ko, a three-time major champion, is balancing her ambition for a career Grand Slam with the physical fatigue from  | [Link](https://longbridge.com/zh-HK/news/276857683.md) |
| HSBC: BoComm, French Sale, Legal Costs Drive Lower Profit | HSBC reported a profit after tax of $29.9 billion for 2025, down $2.4 billion from 2024, despite a 4% revenue increase t | [Link](https://longbridge.com/zh-HK/news/276834870.md) |
| Key facts: HSBC to meet $1.5B cost-cutting target early; raises lending goal | HSBC's CEO Georges Elhedery stated the bank will meet its $1.5 billion cost-cutting target six months early, focusing on | [Link](https://longbridge.com/zh-HK/news/276963445.md) |
| HSBC Approves $3.93 Billion Variable Pay, Up 10% From 2024 | HSBC Approves $3.93 Billion Variable Pay, Up 10% From 2024 | [Link](https://longbridge.com/zh-HK/news/276927157.md) |

---

> **免責聲明**：本文內容僅供參考，不構成任何投資建議。