野村:降港交所(0388.HK)評級至中性 升目標價至473.3港元
野村發表研究報吿指,港交所(0388.HK)早前公佈了去年12月的月度數據,顯示出整體日均成交量較預期疲弱,但新股集資活動就較預期強勁。野村將港交所目標價由原來的462.9港元升至473.3港元,但由於集團目前股價高企,評級就由買入降至中性。
野村表示,港交所去年日均成交金額按年增長49%至約1290億港元,雖然較該行預期低1%,但仍表明市場信心強勁。新股集資額創歷史新高,總集資額3980億元,增長27%,較預期高出18%。該行預期,在香港市場流動性充裕、與內地市場有聯繫,以及適當的監管體系等推動之下,香港將迎接更多企業上市,特別是新經濟企業,並預期強勁的新股集資趨勢在今年仍會持續。
該行指,考慮到潛在的大型新股帶來的日均成交額增量,以及南向交易的上升趨勢,相信今年將有強勁交易表現。因此,野村將港交所今、明兩年的盈利預測各上調2%,預料淨利潤將分別增長32%和19%。

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