HSBC 汇丰:东亚银行
01.18 11页
China growth remains front and centre with subsidiary bank likely operational by 2Q07.
Our earnings forecasts are among the highest for 2006e and 2007e and we believe these have been reflected in the current price.
Share price has risen c96% over the past year. Based on market price performance, we downgrade BEA to Underweight and maintain our end-2007 target price