《大行報告》里昂下調港交所(00388.HK)目標價至503元 評級「買入」
里昂發表報告指,港交所(00388.HK)疲弱的2021年第四季業績再次提醒市場,始於2020年的股市交投狂熱不可能永遠持續下去,即使是長期活躍的滬深港通也有轉弱跡象。里昂將港交所目標價從574元下調至503元。
里昂表示,市場有很多未知數,其認為最大和最緊迫的因素是中國企業ADR的退市,由於地緣政治局勢緊張,退市問題並不容易解決。雖然將港交所盈利預測削減了6%至9%,但基於未來交易遷移令港交所變得吸引,重申「買入」評級。
里昂表示,香港陷入發達市場貨幣政策收緊和內地監管變化對上市公司的影響之間,將港交所今年的日均成交預測從1,760億元下調至1,500億元,將2023年的日均成交預測從2,160億元下調至1,840億元。
不過里昂指出,在中國企業ADR在2024年第一季在美國退市之前,預計港交所日均交易額將在2023年下半年顯著回升。
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