External broker reports(aggregated public sources), Capital Securities Corp

Capital Securities

Capital Securities provides clients with investment services covering diversified financial products. We have outstanding business performance amid intense competition in the domestic securities market. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only.  Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

External broker reports(aggregated public sources)

The Shanghai Commercial & Savings Bank - Far Stronger Credit Metrics, 31% Net Interest Income Growth

Capital Securities Corp

Capital Securities provides clients with investment services covering diversified financial products. We have outstanding business performance amid intense competition in the domestic securities market. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Fubon Financial Holding Co / Equity Bottom-Up

<p>Investment outlook appears promising in FY22; recommend TRADING BUY. Fubon FHC posted 1Q~3Q21 net profit of NTD130.2bn. FY21 earnings may outperform. Fubon FHC positively views market outlook in FY22. Due to a low comparison base in FY21, Taipei Fubon Bank may resume growth in FY22. We recommend TRADING BUY with TP of NTD80 (1.0x FY22 PBR).</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Investment outlook appears promising in FY22; recommend TRADING BUY. Fubon FHC posted 1Q~3Q21 net profit of NTD130.2bn. FY21 earnings may outperform. Fubon FHC positively views market outlook in FY22. Due to a low comparison base in FY21, Taipei Fubon Bank may resume growth in FY22. We recommend TRADING BUY with TP of NTD80 (1.0x FY22 PBR).Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Fubon FHC (2881 TT, TRADING BUY, NTD73.10)