野村:升港交所(0388.HK)目標價至322.7港元 維持“買入”評級
野村發表報告表示,阿里巴巴(9988.HK)於
去年成功上市,有助未來吸引更多互聯網企業來港,預期若香港局勢未來趨向穩定,港交所(0388.HK)
去年第四季錄疲弱的交投後,有望於2020年恢復,維持對其“
買入
”評級,並將目標價由291.8港元調高至322.7港元,此相當預測2020年市盈率36倍。
該行指,去年第四季度香港市場交易量維持疲軟,股市日均成交量按年跌16%至770億港元,衍生產品市場同樣疲弱,相信主要由於下半年社會事件影響。
但該行指出,2019年第四季南向交易日均成交額為110億港元,分別按季及按年升20%及46%,北向交易日均成交則為380億港元,與第三季持平,按年增長88%,互聯互通持續支持以及上市制度改革吸引大型企業來港均有正面作用,因此將2019財年盈利預測下調2%,維持2020至2021財年的盈利預測。
惟野村提醒,內地開放措施或超出市場預期,投資者或因香港作為連接中國與世界的門户而減弱投資信心,澳門研究建立以人民幣計價結算的證券市場、及香港社會活動持續亦會削弱香港金融中心地位。
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