Core Viewpoint - Morgan Stanley identifies Standard Chartered (02888) as its top pick among bank stocks in Greater China, citing strong Q3 performance and an investor meeting with CFO Diego De Giorgi as key factors for the upgrade in earnings per share (EPS) forecasts for 2023 to 2027 by 3% to 6% [1] Group 1: Financial Performance - Standard Chartered's strong Q3 performance has led to an upward revision of EPS forecasts for the years 2023 to 2027 by 3% to 6% [1] - The bank's target price has been raised from HKD 168 to HKD 190, with a projected EPS growth of 13% by 2028 and an adjusted tangible capital return rate of 14% [1] Group 2: Dividend and Buyback Returns - The total return from dividends and buybacks for Standard Chartered is forecasted to be 7.5% next year, the highest among banks in Greater China [1] - There is potential for upward revision in non-net interest income forecasts, driven by wealth and market business, leading to a tangible equity return rate prediction of 14% for next year [1] Group 3: Market Positioning - Standard Chartered is expected to obtain a stablecoin license for issuance in Hong Kong through its branch Anchorpoint, which is anticipated to positively influence market sentiment [1]
小摩：上调渣打集团(02888)目标价至190港元 属大中华区银行股首选