摩通:維持港交所(0388.HK)“增持”評級 目標價250港元
摩通發表研究報告指,港交所(0388.HK)
第三季盈利按季跌15%或按年跌10%至22.05億港元,較該行預期高6%,其中包括就收購倫敦證交所一次性1.3億港元開支,若剔除有關開支,核心盈利高於預期12%,主因收入勝預期和成本輕微下降。
該行指,股票交易量按季跌19%,衍生工具交易量跌16%,但收入僅跌7%,股價於過去一個月升10%(相比之下,恆指升7%),主因地區和交易增長風險減弱。第三季的表現強勁,雖然交易量仍然受壓,但有機會調高盈利預測,成為股價進一步上升的催化劑。長遠仍受惠“
北望
”的發展政策,因中國目前正加速開放資本賬和降低經常賬盈餘。
該行維持港交所“
增持
”評級,目標價250港元不變。
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