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《大行報告》野村下調中資券商股目標價 首選中信証券(06030.HK)
野村發表報告指,自6月22日以來,市場情緒出現復甦跡象,當月A股日均成交額回升至1.1萬億元人民幣。該行預計下半年有更多有利於增長的寬鬆政策和潛在的基於主板註冊的IPO改革支撐行業基本面。此外,互聯網行業監管的進一步明確、地緣政治緊張局勢緩和,以及香港IPO上市的潛在復甦,或進一步促進市場情緒。 野村對2022財年的A股市場日均成交額預期基本維持在1.01萬億元人民幣。由於投資收入和保證金融資量在市場波動中下降,該行將覆蓋的傳統經紀公司在2022財年盈利預測削減4至16%。 該行預計,中信証券(06030.HK)將受惠IPO承銷業務市場份額的持續增長,亦是該行首選。而華泰證券(06886.HK)可能受益於市場份額的恢復。隨著基於主板註冊制的IPO改革可能在下半年推出,該行認為中信和中金(03908.HK)在政策利好下有可能獲重評。中資券商股目標價詳見另表。
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