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《大行報告》野村微降港交所(00388.HK)目標價至322.28元 料首季盈利略遜
阿思達克 03-19 11:16
野村對港交所(00388.HK)首季業績作出預測。該行預測港交所首季收入將大致符合預期,盈利或略遜預期,受盈利率下降影響。 該行預測港交所首季收入按年跌11%至49.5億元,按季升2%,符合市場預期。港交所首季主要業務收入料按年跌8%至46億元,按季升2%,受股市交投低米影響。淨利潤預測按年跌18%至28.1億元,按季升8%,低於市場預期1%。EBITDA料按年跌17%至35.1億元,按季升8%,低於市場預期2%。EBITDA率料按年跌4.7個百分點至71%,按季升3.8個百分點,但較市場預期低1.3個百分點。 該行預測期內現貨股票交易費用收入按年跌20%至6.68億元,按季升14%;清算及結算費按年跌14%至8.28億元,按季升7%,基於港股市場日均成交按年跌23%(按年升8%),以及北向通成交按年升17%(按季升12%)的假設。 該行下調對港交所目標價,由324.78元降至322.28元,維持「買入」評級。
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