《大行報告》花旗下調港交所(00388.HK)目標價至270元 降2023至2025年股盈預測4至6%
港交所(00388.HK)將於10月20日公布第三季業績,花旗發表研究報告,預測港交所第三季純利將按年增長25%至28億元,主要來自於投資收入增加。
由於目前現貨市場交投較為疲軟,花旗預料港交所第三季核心收入可能仍然受壓,關注下周三發表的新一份施政報告或提出提升股市流動性的政策。市場憧憬當局或削減印花稅,花旗指,印花稅佔港股市場交易成本約30%至40%,假設印花稅每降低1個基點,交易成本將降低2%至3%,但預期僅適度削減印花稅,不太可能令市場流動性出現結構性改善。
該行將港交所2023至2025財年每股盈利預測下調4%至6%,日均交易預測進一步下調至1,080億、1,210億及1,390億元,目標價相應降至270元,評級為「沽售」。
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