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摩通:予港交所(0388.HK)“增持”評級 目標價250港元
格隆匯 10-10 11:44
摩根大通發表報告表示,恢復對港交所(0388.HK) 發出研究報告,予“ 增持 ”投資評級,目標價250港元,此相當預測未來市率27.5倍。
該行指,港交所放棄併購倫敦交易所去除短期不確定因素,其投資重點回歸於來自中國資金流出及流入,港交所“ 望北 ”的發展策略仍然進行中,惟近期受到香港部分事件影響,及中美貿易摩擦或延伸至資本管制等,亦對港交所造成潛在負面影響。該行認為以上不利因素已於港交所股價反映,惟仍有可能進一步構成股價波動,建議趁弱收集。
摩通估計,港股於今年第三季日均成交額預測為770.1億港元,料第四季為817.69億港元,估計今年全年日均成交額為883.28億港元、料2019年日均成交額預測為999.03億港元(按年回升13%)、並估計2020年日均成交額預測為1140.9億港元(按年升14.2%)。此外,該行料港交所今年第三季純利預測為20.81億港元,按年跌14.8%(按季跌20%),料營運收入37.18億港元。
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