BOC Hong Kong (Holdings): A Buy Rating on Strong NII, Dividend Appeal, and Positive 2024 Outlook

News Snapshot:

In a report released yesterday, Sam Wong from Jefferies maintained a Buy rating on BOC Hong Kong (Holdings) (BNKHF – Research Report), with a price target of HK$24.00. Sam Wong of Jefferies has assigned a Buy rating to BOC Hong Kong (Holdings) for a number of reasons, including the company’s stable net interest income (NII) and the attractive dividend yield that it offers to shareholders. Despite the challenging market conditions, BOC Hong Kong has managed to sustain its NII growth quarter over quarter, primarily due to the increase in the Hong Kong Interbank Offered Rate (HIBOR). Moreover, Wong anticipates that...