Citigroup raised its target price to 89.8 Hong Kong dollars, and raised its Standard Chartered target price to 95.9 Hong Kong dollars.

Jinshi data news on November 8th, Citigroup released a report on the UK banking industry, stating that it raised the target price of HSBC Holdings (00005.HK) from 83.3 Hong Kong dollars to 89.8 Hong Kong dollars, and raised the target price of Standard Chartered Bank (02888.HK) from 82.8 Hong Kong dollars to 95.9 Hong Kong dollars. The former was rated as “buy” and the latter was rated as “neutral”, both considered high risk. Citigroup pointed out in a previous report the paired trade of HSBC Holdings and Standard Chartered, based on their respective franchise advantages, interest rate sensitivity, and capital return prospects. Standard Chartered Bank is taking many wise strategic steps to address key issues mentioned in previous reports, but it has now confirmed that its 2025 revenue rise will be lower than expected, and there are also risks to the positive interest rate target. In contrast, HSBC Bank’s net interest income should be more resilient, and third-quarter wealth income is expected to rise strongly year-on-year, with restructuring expected to drive additional cost savings.