大行評級|高盛:上調港交所目標價至397港元 風險回報仍具吸引力
高盛發表報吿指,內地以改善經濟和市場前景為重點的政策公佈為港股帶來創紀錄的成交量。 10月8日創下的單日記錄較2021年的高位高出約70%,但上市市值則較此低約40%。港交所股價對股票現貨量十分敏感,因為約一半的營業額來自股票交易和結算。儘管如此,港交所股價仍較2021年高位低逾40%。
除了近期的飆升外,股票的盈利前景以及香港交易所明年旨在降低買賣差價的現貨市場改革將決定明年以後的交易量。該行強調港交所風險回報仍具吸引力,認為牛市上行空間較熊市下行空間為大,將港交所目標價由318港元升至397港元,評級為“買入”。
高盛將港交所2024至2026財年的日均成交預測各上調19%、18%及11%至1,340億港元、1,540億港元及1,630億港元,每股盈利預測各上調11%、12%及9%。該行估計股票市場交易量每改變10%,每股盈利就會改變約8%到9%。
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