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 [1] - The bank's target price has been raised from HKD 168 to HKD 190, reflecting positive financial outlook [1] - The forecast for Standard Chartered's EPS growth in 2028 is projected at 13%, with an adjusted tangible return on equity of 14% [1] Group 2: Dividend and Share Buyback - The total return from dividends and share buybacks for Standard Chartered is projected at 7.5% for the 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 segments [1] - The tangible equity return rate is expected to reach 14% next year [1] Group 3: Market Position and Licensing - Standard Chartered is anticipated to obtain a stablecoin license for issuance in Hong Kong through its branch Anchorpoint, which is expected to positively influence market sentiment [1]
小摩：上调渣打集团目标价至190港元 属大中华区银行股首选