《大行报告》瑞银降光大证券(06178.HK)评级至「沽售」目标价下调至5.5元
瑞银发表报告指,随中国证券市场加速开放及自由化,相信对於中国经纪而言,未来三年尤其关键,除零售经纪业务外,要将业务组合变为多元化。
对於光大证券(06178.HK)来说,该行认为公司声誉有受到之前一项有关并购的诉讼所影响,相信股价反映收购MP & Silva Holding S.A.(拥有多项世界级体育赛事版权)的诉讼对公司财务带来的负面因素,更认为该不利因素会长远打击公司声誉及竞争力,而上述情况仍未反映於股价上。
该行预期,光大证券以收益计的市占率由2018年的3.2%,跌至2021年的2.7%,下调其2019至2021年的盈利预测最多30%,以反映上述法律风险及市占率下降,评级由「中性」降至「沽售」,目标价更由8.5元大幅削减至5.5元,降幅达35%。
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