
Core Viewpoint - Morgan Stanley has downgraded the target price for HSBC Holdings to HKD 83, anticipating a USD 3 billion share buyback plan to be announced at the end of the month when the company discloses its quarterly results [1] Summary by Category Earnings Forecast - Morgan Stanley has reduced its earnings per share (EPS) forecast for HSBC Holdings by 9% for this year and 8% for next year [1] - The EPS forecast for Standard Chartered has also been lowered by 9% and 4% for the same periods [1] Target Price Adjustment - The target price for HSBC Holdings has been adjusted from HKD 92.3 to HKD 83 [1] - The target price for Standard Chartered has been revised down from HKD 128.3 to HKD 112 [1] Share Buyback Plan - HSBC is expected to announce a share buyback plan worth USD 3 billion when it releases its first-quarter earnings [1]