《大行報告》高盛升中金公司(03908.HK)評級至「買入」 目標價16.84元
高盛發表研究報告指,宏觀經濟及資本市場表現疲軟,內地券商持續面對在岸收入增長放緩的問題,同時中國市場持續步向制度化,推動財富管理及資產管理增長。
高盛指,隨著內地券商積極從傳統經紀業務,轉型為更具附加價值的財富及資產管理營運商,預期在多元化業務方面,線上券商競爭將加劇,目前見到廣發證券(01776.HK)、中金公司(03908.HK)及中信證券(06030.HK)在財富及資產管理業務市場份額均有提升。
由於市場競爭加劇,該行相應將券商明年在岸收入預測從6,370億元人民幣下調至5,010億元人民幣。高盛將中金公司評級上調至「買入」,憧憬「重新開放」勢頭持續,預計明年淨利潤將增長22%,目標價提升至16.84元。
同時高盛亦將廣發證券A股列份確信買入名單,預期該公司明年財富及資產管理業務收入佔比將提升至總收入約40%。
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