Citigroup Soars 3.07% on Bullish Bank of China Outlook

Generado por agente de IAAinvest Movers Radar
miércoles, 23 de abril de 2025, 7:43 am ET1 min de lectura

Citigroup's stock price surged by 3.07% in pre-market trading on April 23, 2025, reflecting a strong start to the day's trading session.

Citigroup's recent research report on Bank of China (Hong Kong) has highlighted several key points that could influence Citigroup's stock performance. The report projects that Bank of China (Hong Kong) will achieve an operating profit of 13 billion Hong Kong dollars for the first quarter of 2025, marking a 23% increase quarter-over-quarter and a 1% increase year-over-year. This positive outlook is driven by expectations of a resilient non-interest income stream, despite potential pressure on net interest income due to anticipated market rate cuts.

Citigroup's earnings forecast for Bank of China (Hong Kong) for the fiscal year 2025 is 5% higher than market expectations, although the forecasts for the fiscal years 2026 and 2027 are in line with market consensus. The dividend yield for the fiscal year 2025 is projected to be 6.8%, with potential share buybacks in the fiscal year 2026. This has led

to maintain a "buy" rating on the stock, with the target price increased from 29.1 Hong Kong dollars to 32.2 Hong Kong dollars.

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