花旗：升汇丰控股目标价至138.3港元 重申“买入”评级

Group 1 - The core viewpoint of the report is that Citigroup has adjusted HSBC Holdings' earnings per share forecast for 2025 to 2027 down by 0% to 1% due to the Federal Reserve's interest rate cut predictions [1] - Citigroup believes that HSBC can achieve a return on tangible equity (RoTE) of approximately 19% to 20% in the years 2027 to 2028 [1] - After incorporating the 2028 forecast, Citigroup has raised the target price for HSBC from HKD 127.8 to HKD 138.3 and reiterated a "buy" rating [1]