大和:升中信證券(6030.HK)目標價至25港元 料全年收入增長高於同業
大和發表研究報告指,中信證券(6030.HK)上半年淨利潤按年增長37%,而其H股上市同行的平均水平為27%,預計公司上半年及全年都能實現高於同業的收入增長。該行將中信證券目標價上調13.6%,由原來的22港元升至25港元,維持買入評級。
大和表示,公司在投資銀行界的領導地位未有受到挑戰,今年上半年其股票資本市場業務和債券資本市場業務都處於首位。同時,近期內地市場改革措施,相信將會繼續推動股市的增長,而中信證券將是當中的受惠者。
該行指,中信證券正在處理的新股數量是業內最多,預料各種因素將推動下半年的盈利增長,相信公司在下半年,其財富管理業務將繼續受A股日均成交量上升所推動,今年A股日均成交預料有30%的增長,而投資銀行業的的市佔率亦將繼續擴大,因此該行上調公司2020至2021年的盈利預測4%至5%。

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