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《大行報告》花旗普遍下調內地券商股目標價 首選華泰證券(601688.SH)及中信証券(06030.HK)
花旗發表報告指,其覆蓋的7間內地券商第二季收入和營業淨利潤率按年分別下跌10.2%和15.5%。第二季股本回報率為6.26%,按年下降2.12個百分點。花旗普遍下調內地券商股目標價,詳見另表。首選為A股華泰證券(601688.SH)和H股中信証券(06030.HK)。 不過,花旗認為券商股是即將出台振興A股市場政策的主要受惠者。首選對日均成交額反彈敏感的經紀商,如東方財富(300059.SZ);擁有領先機構或資本業務的優質大型經紀商,因可受惠於潛在的資本要求放寬,如中信証券和中金公司 (03908.HK);不易受潛在費率下調影響的經紀商,如中金公司、華泰證券(06886.HK)及中信証券。
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