Credit Lyonnais degrades target price of Hang Seng and HSBC

Credit Lyonnais announced to decrease the target price of HSBC (0005) and Hang Seng Bank. Credit Lyonnais moved down the price target of HSBC to HK$77 and recommend a buying at HK$. Heng Seng was rating from buying to long-term buying at target price of HK$99 and was recommend absorption at HK$85.Credit Lyonnais said Hang Seng Bank would be negatively influenced by slowdown of US economy and decreased profit forecast of Heng Seng bank by 5% to HK$ 10.103 bln, profiting HK$5.28 per share.

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