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17917 JPHSCEI@EC2512A (CALL)
RT Nominal unchange0.012 0.000 (0.000%)

19/12/2025 16:06

{I-bank focus}Morgan Stanley raises ICBC (01398) to HKD8

[ET Net News Agency, 19 December 2025] Morgan Stanley raised the target price for ICBC
(01398) to HKD8 from HKD7.6 and maintained the "overweight" rating.
The research house said it lowers 2025E-27E NIM forecasts to factor in slower NIM
recovery at SOE banks, but raises fee income forecasts following quicker than expected fee
income growth in 3Q25. (rc)

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