《大行報告》匯豐研究上調港交所(00388.HK)目標價至410元 內地監管支持 料有利拓展各新業務
匯豐研究發表研報指,港股日均成交額(ADT)過去與市場漲跌同步,但隨著波動性上升,相關性最近大幅下降,近期股市大幅波動,但3月份ADT仍保持高位,反映出換手率急劇上升,預期利好港交所(00388.HK)盈利表現。
該行又指,內地當局表明將推出更多有利於金融市場的措施,並會加大對資本市場的監管支持,通過加強與香港監管機構溝通,支持香港金融市場發展。匯豐研究團隊認為,美國SEC更新《外國公司問責法案》(HFCAA)臨時名單,將推動ADR加快回流香港,同時港交所年初推行SPAC上市機制,至今已收到10宗申請,加上A50期貨等發展,預期亦會刺激市場氣氛。
匯豐研究維持對港交所的「買入」評級,並將今年全年ADT預測從1,380億元適度上調至1,420億元,目標價由400元上調至410元,看好港交所的長期戰略潛力,認為其估值已恢復至低於平均水平,估計今年股息率將升至2.4%。
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