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《大行報告》野村下調港交所(00388.HK)目標價至507.5元 評級「中性」
阿思達克 10-28 10:00
野村發表研究報告指,港交所(00388.HK)第三季主要業務收入增長維持強勁,按年升10.5%,符合預期。平均每日成交額(ADT)按年增加43.4%,而牛熊證和衍生權證上市,亦推動上市費用增長(按年+12.6%)。 惟該行指出,期內受投資收益按年下跌76%影響,整體收入按年持平,加上折舊及攤銷增加,令期內純利錄得近3%跌幅。 展望未來,野村預計港交所將繼續受惠於互聯互通可能帶來的強勁收入貢獻,部分被低利率環境導致的投資收益下降所抵銷,維持ADT預測基本不變,同時將2021至2022財年淨投資收入分別下調24.1%及33.4%,導致盈利預測亦下調4%及4.4%。野村相應將目標價下調0.8%至507.5元,評級「中性」。
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