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《大行報告》大摩降廣發証券(01776.HK)評級至「減持」 目標價下調至8.03元
阿思達克 07-13 10:40
摩根士丹利發表報告指,中國證監會於7月10日對廣發証券(01776.HK)涉及與康美藥業有關的違規作處罰。廣發証券被暫停保薦機構資格半年,及暫停債券承銷業務一年,而且有14名員工面臨被認為10至20年不適合擔任投資銀行工作等處分。

該行認為,是次處罰是中國證券業史上最重,相信內地監管機構對公司治理和券商的責任的關注提高,有助註冊制新股上市的發展,並促進資本市場健康。而廣發証券受罰,料將使集團錯過內地今年的直接融資發展,其投資銀行業務市場佔有率有潛在下跌可能。

大摩下調廣發証券評級,由「與大市同步」降至「減持」,目標價由8.7元調低至8.03元,以反映投行收入下跌,今年至2022年盈利預測亦因而分別下調4%、8%及9%。

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