Goldman Sachs: Raises HSBC HOLDINGS target price to HKD 103, expects the U.S. to start cutting interest rates only in December this year
Goldman Sachs released a research report stating that it expects the Federal Reserve to cut interest rates by 25 basis points in December of this year, as well as in March and June of next year, whereas the previous forecast was for cuts in June, July, and September of this year. Regarding HIBOR, due to excess liquidity in the Hong Kong banking system, the 1-month HIBOR has decreased by about 2 percentage points to below 1.9%. The bank has raised its earnings per share forecast for HSBC HOLDINGS for the fiscal years 2025 to 2028 by approximately 3% and increased the target price by 2%, from HKD 101 to HKD 103
According to the Zhitong Finance APP, Goldman Sachs released a research report stating that it expects the Federal Reserve to cut interest rates by 25 basis points in December of this year, as well as in March and June of next year, whereas the previous forecast was for cuts in June, July, and September of this year. Regarding HIBOR, due to excess liquidity in the Hong Kong banking system, the 1-month HIBOR has decreased by about 2 percentage points to below 1.9%. The bank has raised its earnings per share forecast for HSBC HOLDINGS (00005) for the fiscal years 2025 to 2028 by approximately 3% and has increased the target price by 2%, from HKD 101 to HKD 103
