大行评级丨瑞银：上调汇丰目标价至108.2港元 轻微上调今明两年每股盈利预测

Core Viewpoint - UBS reports that HSBC Holdings delivered strong performance in Q3, with a 9% year-on-year increase in pre-provision profit, and even more impressive results when excluding $1.6 billion in significant special items [1] Financial Performance - Revenue increased by 5% during the period, with net interest income rising by 4% and fee-based and other income growing by 6%, although partially offset by a 1% rise in operating expenses [1] - The bank's provision for credit losses increased in the Hong Kong commercial real estate sector and in the UK and Middle East and North Africa regions, but the impairment losses remained at 40 basis points, in line with expectations [1] Earnings Forecast - The company raised its earnings per share forecasts for HSBC for the years 2025 to 2027 by 3%, 1%, and 0% respectively, and adjusted the target price from HKD 103.7 to HKD 108.2, maintaining a "Neutral" rating [1]