According to Citi, the earnings estimates for each share of the Hong Kong Stock Exchange (00388) will be lowered by 9% this year and next.
The Zhitong Finance App learned that Citi released a research report stating that it maintained the “sale and sale” rating of the Hong Kong Stock Exchange (00388) and raised its 2023 investment income forecast by 4%, considering the potential profit from external portfolios in the fourth quarter of 2023, keeping its earnings per share forecast unchanged, lowering the earnings forecast per share for this year and next two years by 9% each, and lowering the target price of the Hong Kong Stock Exchange from HK$270 to HK$240. Furthermore, the average daily turnover (ADT) forecast for Hong Kong stocks for each year from 2023 to 2025 was lowered to 102 billion yuan, 114 billion yuan and 128 billion yuan, respectively, affected by the sluggish market climate.