BOC Hong Kong downgraded to Neutral from Buy at Goldman Sachs

Goldman Sachs downgraded BOC Hong Kong (BHKLY) to Neutral from Buy with a price target of HK$29.50, down from HK$31.90. The firm lowered its FY25-27 EPS estimates for Hong Kong banks by 14%, 19% and 15%, respectively, on average as it lowered net interest margin estimates and raised credit costs.