[I-bank focus]Deutsche Bank adjusts TPs for Chinese banks

   Deutsche Bank expects the Chinese government to focus on deleveraging the financial and SOE sector in 2017. This should lead to higher rates, moderate credit growth and boost debt restructuring.
  As net interbank lenders, big banks are likely to benefit from higher rates. In contrast, smaller banks may suffer from rising funding costs, shadow banking tightening and asset yield pressure, said the research house.
  DB expects big banks to trade in a dividend yield range of 5-6% and sees 15-20% upside potential. It also adjusted its target prices for the Chinese banks it covers as follows:
  Name             Target Price          Rating
  ----------------------------------------------
  ICBC (01398)     HK$5.72 to HK$5.73    Buy
  CCB (00939)      HK$6.65 to HK$6.67    Buy
  ABC (01288)      HK$3.58 to HK$3.56    Hold
  BOC (03988)      HK$4.09 to HK$4.20    Buy
  BoCOM (03328)    HK$6.15 to HK$6.13    Hold
  CMB (03968)      HK$22.88 to HK$23.37  Buy
  CNCB (00998)     HK$4.65 to HK$4.26    Hold
  MSB (01988)      HK$7.85 to HK$7.91    Hold
  CEB (06818)      HK$3.40 to HK$3.10    Hold
  CRCB (03618)     HK$5.11 to HK$5.26    Hold
  Huishang (03698) HK$2.81 to HK$2.89    Sell
  BOCQ (01963)     HK$5.20 to HK$5.28    Sell