《大行報告》星展降中信証券(06030.HK)目標價至19元 下調盈測
星展發表報告,將中信証券(06030.HK)目標價由20.5元下調至19元,維持「買入」評級。同時將2023至2024財年盈利盈測分別下調22%和41%,以反映市場情緒的復甦低於預期;暫時性的監管收緊導致IB和交易費用收入減少。
星展認為,隨著中國經濟企穩和美國減息,A股市場可能在年底見底反彈,將推動資金回流中國。該行認為,隨著A股市場企穩,監管機構將逐步實現IPO發行正常化,將提高中國券商的利潤。屆時,減費和槓桿要求再放寬等政策的潛在利好也可能兌現,支持經紀和公募基金費用的回升。
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