《大行報告》瑞銀下調中資券商股目標價 續看好中信証券(06030.HK)及中信建投証券(06066.HK)
瑞銀發表報告指,中資券商的行業指標包括市場日均成交、基金發行及IPO批准在最近數月都有所放緩,但仍認為中國資本市場改革是有建設性的,相信整體趨向市場制度化和國際化的方向不變。
該行表示,仍然看到有潛在政策發展以支持長期市場改革,調整中資券商業今年至2023年的盈利預測不多於10%,以反映年初至今的趨勢及市場表現,和整體市場情緒疲弱下股權成本預測提高。
瑞銀下調中資券商股目標價,行業中繼續看好中信証券(06030.HK)及中信建投証券(06066.HK)。其中,該行認為中信証券有更強勁的資本定位和機構業務能力,相信可成市場改革的主要受惠者。而中信建投証券的估值則未完全反映其領先的盈利能力,以及潛在股本回報率擴張。
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