You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
一文了解港交所(00388.HK)公布去年业绩後最新目标价及观点
阿思达克 02-25 11:28
港府昨公布建议调高股票印花税率由0.1%升至0.13%,港交所(00388.HK)昨股价下滑8.8%後,今早股价靠稳。港交所(00388.HK)昨公布去年收入及其他收益191.9亿元,按年升17.7%符预期,纯利达115.05亿元新高按年升22.5%,符合本网综合17间券商预期港交所2020年纯利介乎110.59亿元至121亿元(中位数113.85亿元);每股盈利9.11元。派第二次中期股息每股4.46元,连同第一次中期股息每股3.71元,全年股息为每股8.17元,创历史新高。

摩根士丹利发表报告表示,政府计划调高股票印花税税率,股票印花税自0.1%上调至0.13%,料将提高港股总交易成本约15%,但认为不会改变长期波幅性呈结构上升的轨道。该行指出,上调印花税可能会进一步阻止某些量化基金交易(占港股交易额的很小部分)和一些投机交易,故该行下调港交所(00388.HK)今明两年盈利预测5%,目标价相应由600元降3%至580元,维持「增持」评级。

【业绩符预期 基本面仍佳】

瑞银指出,新一份预算案中将股票印花税由0.1%提升至0.13%,估计投资者的总交易成本将增加10%至20%,但预计对香港市场交易量的负面影响将较为温和,仅为5%至10%,主要是由於香港股市大部分都不是超高频率交易,加上认股权证及牛熊证仍免徵印花税,相信是次调升幅度对於大多数散户及机构投资者属可以忍受范围。

该行看好港交所不断完善的生态系统,以吸引更多新经济股,预期加徵印花税3个基点,不足以令中概股改变来港第二上市计划,但步伐可能有所放慢,仍对交易所在吸引新经济股票的定位持乐观态度,维持「买入」评级,将港交所的目标价由650元下调至615港元,认为预算案後的股价疲软已反映股票印花税的影响。

-----------------------------------

本网综合10间券商予港交所最新投资评级及目标价:

券商|投资评级|目标价(港元)

瑞银|买入|650->615元

大和|买入|447.1->602元

摩根士丹利|增持|580->600元

瑞信|跑赢大市|525->590元

花旗|买入|575->580元

美银证券|中性|482->549元

野村|中性|473.3->517.4元

摩根大通|中性|500元

高盛|沽售|410元

杰富瑞|持有|360.04元

券商|观点

瑞银|预期IPO资金保持稳定,股票印花税影响已反映

大和|盈利连续第三年创新高,或进入流动性新时代

摩根士丹利|上调印花税可能会阻止一些投机交易

瑞信|上调印花税影响有限,交易成本仅众多考虑因素之一

花旗|股票印花税上调感意外,关注交易成本影响

美银证券|强劲业绩已於股价反映,上调股票印花税长线负面

野村|去年股票成交量强劲增长,目标价上调9%

摩根大通| 上调印花税市场反应过大,去年第四季业绩胜预期

高盛|关注股票印花税上调影响成本及现金股权周转

杰富瑞|印花税上调引起关注

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account