《大行报告》美银美林降港交所(00388.HK)目标价至302元料次季业绩或令人失望
美银美林发表的报告指,该行一向以年化日均成交及市场规模等判断投资者在港股参与程度,而过去八年平均交易流通速度约75%,而一个标准差约18个百分点,相关水平大致维持稳定,故该行相信相关指标可用於判断短期市场走向。美银美林指出,现时交易流通速度为58%,虽仍未见底,但该行认为将接近底部,若港股日均成交在未来5至7日持续低於700亿元水平,而市场规模大致维持,估计到七月尾将见底而市场将现反弹。
该行指出,港交所(00388.HK)次季收入或令人失望,主要因为今年次季港股成交较预期淡静,按季跌8%,而日均成交由首季的1,010亿元降至950亿元,此外港交所首季投资收入强劲,料相关收入或快速减少,将其2019至2021年盈测下调介乎5%至9%,目标价降2%,由307元降至302元,重申「买入」评级,仍看好港交所中期增长以及在内地资本市场发展中所扮演的角色。
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