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富瑞:微降港交所(0388.HK)目標價至360.04港元 評級“持有”
格隆匯 08-20 16:34

富瑞發表研究報告指,港交所(0388.HK)今年第二季盈利基本符合預期,儘管一些新產品仍未足以成為集團盈利的主要動力,但相信在強勁的交投量及新股集資的推動下,第三季的收入增長將會加快。在調整對集團的盈利預測後,富瑞輕微下調港交所目標價0.1%,由360.28港元降至360.04港元,評級維持“持有”。

富瑞表示,由於基數較低,現金交易量上升,主板、北向交易等交易量自6月份起增長加快;新股集資表現強勁,估計30家中概股來港二次上市將直接令集團的收入增長3%,同時該行留意到,很多中國企業來港上市;衍生產品交易費、服務費等因低基數效應而得以恢復。該行相信,有關因素都將會推動集團第三季盈利增長加快。

該行指,管理層指出一些新產品仍為時過早,不足以成主要動力,包括儘管債券通的日均成交額按年大升2.02倍,但規模仍然很小,可持續金融平台(ESG)仍處於初期階段等。

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