美银证券:重申港交所“买入”评级 目标价降至302港元

Bank of America Securities: Reiterates Hong Kong Stock Exchange's “Buy” Rating Target Price Reduced to HK$302

新浪港股 ·  Feb 19 23:07

Bank of America Securities released a research report saying, reaffirming the “buy” rating of the Hong Kong Stock Exchange (00388), the profit forecast for this year and next two years was lowered by 3% to 8%, and the target price was lowered by 11% to HK$302 from HK$338 due to the expected decline in average daily turnover and investment income forecasts.

The bank expects the Hong Kong Stock Exchange's profit to rise 19% year on year to $12 billion; excluding investment and interest income, it is estimated that its core business revenue fell 9% year on year; average daily turnover was 105 billion yuan, down 16% from 125 billion yuan in fiscal year 2022; total turnover also fell 17% from the same period last year; total IPO capital raised was 46 billion yuan, down 56% year on year. They also believe that the performance of the Hong Kong Stock Exchange will be within market expectations, and that a new CEO will soon take office. I believe investors will pay attention to the company and government's strategies to improve liquidity and IPO fund-raising.

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