《大行報告》瑞信下調港交所(00388.HK)目標價至423元 評級「中性」
瑞信發表報告指,港交所(00388.HK)去年業績符合該行預期,純利及總收入按年分別各升9%,至125億元及210億元,但意味去年第四季純利按年下跌9%,較市場預期低11%。
該行表示,港交所去年第四季日均成交額令人失望,按季下跌24%至1,260億元,且平均市值和流通速度均出現持續下降。至於今年首季至今的日均成交額為1,280億元,較上季高約20億元,有少許恢復跡象,隨著市場逐漸下調對日均成交的假設,該行相信為更好反映目前市況,市場預測或會出現下調。
瑞信將港交所股份目標價由502元降至423元,評級維持「中性」,並調低集團今明兩年每股盈利預測分別6.1%及9.1%,以反映在市場情緒疲弱下交易活動低迷。
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