《大行報告》瑞信下調港交所(00388.HK)目標價至352元 評級「中性」
瑞信發表研究報告指,港交所(00388.HK)首季業績反映業務面臨挑戰,期內純利按年跌31%,由於交易量下跌及淨投資收入減少,總收入按年跌21%。
該行表示,展望未來,港交所交易相關收入可能會第二季持續下跌,同時淨投資收益可能因市場疲軟而受到抑制,認為業務復甦或需要時間。
報告將港交所2022至2024年日均成交量預測由分別1,380億、1,510億及1,670億元,下調至分別1,320億、1,450億及1,620億億元,即預期今年餘下三個季度日均成交量為1,270億元。
瑞信相應將港交所2022至2024年每股盈測下調6%、2%及2%,目標價由383元下調至352元,維持「中性」評級,預期未來催化劑包括互聯互通擴展、中概股前景明朗化及回流步伐加快等。
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