大行評級|瑞銀:相信內地證券業正出現多個催化因素 首選中信證券和華泰證券
瑞銀髮表研究報吿指,內地證券業升勢的可持續程度取決於多項催化因素,包括流動性的充裕程度、宏觀政策的支持及經濟改善的跡象,以及有利的政策。由於是次的反彈是由較低的基數開始,或意味着這次的反彈幅度會更高。該行認為,券商股A股的估值仍然較便宜,但與歷史平均估值相比,H股的估值則不算便宜。瑞銀相信內地證券業正出現多個催化因素,包括宏觀層面上,內地降準、降息及下調存量房貸款利率;在資本市場方面,建立市值管理指引,支持股份回購,以及吸引長期資金進入股市。在板塊方面,行業整合料加快,改善競爭環境。該行在券商板塊中,首選中信證券和華泰證券,兩者H股均予“買入”評級。
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