Credit Lyonnais forecasts HSBC target price at HK$77

Credit Lyonnais anticipated that the interest difference pressure of HSBC (0005) this year was quite big and even if the interest rate agreement was canceled, the profit of the company could not sharply increase and thus the fund house anticipated that HSBC would ˇ§lag behind the marketˇ¨ and forecast its target price to be HK$77. Moreover, as the downgraded deposit interest rate posed 3 times impact over the shares of Hang Seng Bank (0011) as that of HSBC, Credit Lyonnais advised the investors to hold Hang Seng Bank instead.

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