大行评级丨星展：重申汇丰控股“买入”评级 目标价上调至113.7港元

Core Viewpoint - HSBC Holdings proposed to privatize Hang Seng Bank at HKD 155 per share, valuing the transaction at USD 13.7 billion, aligning with HSBC's strategy to deepen its business in Hong Kong and expected to generate long-term revenue and cost synergies [1] Group 1 - DBS believes the impact on earnings per share from this move will be minimal [1] - Stock buybacks are expected to be paused for the next three quarters [1] Group 2 - DBS reiterated a "Buy" rating for HSBC, raising the target price from HKD 98.7 to HKD 113.7 [1] - DBS forecasts HSBC's dividends per share for 2025 to 2027 to be HKD 5.31, HKD 5.56, and HKD 5.94, with dividend yields of 5.1%, 5.3%, and 5.7% respectively [1]