《大行報告》瑞信下調港交所(00388.HK)目標價至534元 評級「跑贏大市」
瑞信發表研究報告指,截至目前為止,港交所(00388.HK)第四季每日平均成交金額為1,320億元,較第三季回落20%,預期在市場情緒好轉、大型IPO加速及中概股回歸的推動下,第四季及2022財年每日平均成交將分別達到1,330億及1,630億元。
該行認為,中美角力日漸升級,影響亦隨之變得更明顯,滴滴日前宣布將自美國退市並尋求在香港上市的計劃,或引發中概股回流。瑞信認為,擴大港股通、引入SPAC上市方式及推出MSCI中國A50期貨指數均有助港交所鞏固全球市場競爭力,帶來長期增長動力。
考慮到第四季至今每日平均成交金額低於預期,該行將2021至2023年的日均成交額預測由1,770億、1,910億及2,190億元,下調至1,680億、1,630億及1,840億元,每股盈利預測下調4%、9%及9%,目標價降至534元(原本569元),維持評級「跑贏大市」。
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