《大行報告》花旗升港交所(00388.HK)目標價至278元 指首季盈利高預期9%
花旗發表研究報告表示,港交所(00388.HK)今年首季除稅前利潤基本符合預期,但受惠於期內稅項較低,盈利較預測高出9%,因此該行將2020財年盈利預測上調2%,並將接下來財年預測上調1%至2%,今年至2022年調整後每股盈測分別達7.26、8.24及9.23元。
該行指,港交所在壟斷式市場結構中可持續實現較高EBITDA利潤率,雖然目前發展步伐有可能放慢,但相信現有業務仍能推動收入增長,包括指數納入支持強勁的北向交易量,以及定息及貨幣產品、大宗商品未來發展可期,維持「買入」評級,將目標價由275元上調至278元,以反映每股盈利預測的調整。
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