《大行報告》野村下調港交所(00388.HK)目標價至388.86元 評級「買入」
野村發表研究報告指,港交所(00388.HK)的盈利或會被疲弱的本港市場交易活動拖累,但部分被北向交易及LME勢頭改善所抵銷。由於第二季香港市場交易活動疲弱,該行料港交所核心收入按季下降2%(按年增9%)至49億元,而總收入或按季跌9%(按年增19%)至51億元,又預計其淨利潤將按季下降15%(按年增34%)至29億元。
此外,該行預計港交所的EBITDA將按季下降13%(按年增25%)至36億元,EBITDA利潤率跌3.7個百分點(按年增3.3個百分點)至72%。該行預期,今年次季其現金交易費用、結算及存託費用按季基本持平。目標價由400.42元下調至388.86元,評級「買入」。
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