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<Research>G Sachs Adds HSBC HOLDINGS' TP to HKD109, Predicts 2Q25 Underlying Pre-Tax Profit to Sink 8% YoY
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Goldman Sachs has released a report forecasting that HSBC HOLDINGS (00005.HK) will report underlying pre-tax profit of USD8.4 billion for 2Q25 on July 30, representing an 8% YoY decline because of largely flat revenue, moderate cost increases, and a surge in credit costs. The heightened provisions should be within expectations given that the 2Q24 benefited from specific recoveries. The main focus of the financial report will be HSBC HOLDINGS's net interest income performance and its FY25 guidance (currently around USD42 billion), given the nosedive in HIBOR and related headwinds for profit margins in 2H25. Goldman Sachs kept a Buy rating on HSBC HOLDINGS and raised its target price from HKD93 to HKD109. AAStocks Financial News |
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