《大行報告》高盛下調港交所(00388.HK)目標價至407元 評級「買入」
高盛發表評級報告指,港交所(00388.HK)過去4年員工成本錄得約8%的複合年增長率,管理層稱為合理增長,然而新員工、科技投資、LME相關的法律成本、工資通漲以及人才競爭等,令其上半年整體成本增長達到兩位數。上半年員工人數增約2%,而管理層建議對成本或員工成本增長,持更長遠的看法。
該行表示,管理層預料互聯互通計劃將拓展至ETF通、互換通(Swap Connect),以進一步加強港交所的定位、提供新機會,並幫助分散收入來源。
該行將港交所今年、明年、2024年及2025年每股盈測下調8%、8%、12%及12%,並將其目標價由451元下調至407元,維持其評級為「買入」。
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