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海通國際:首次覆蓋並予國泰君安國際(1788.HK)“跑贏大市”評級 目標價1.53港元
格隆匯 08-13 08:59

海通國際發研報指,國泰君安國際(1788.HK)是擁有多元化業務組合的實力雄厚的券商,業務包括經紀、公司金融、資產管理、貸款及融資、金融產品和投資業務。該行相信在公司均衡和質量的發展策略、審慎的風險管理和強勁的財務狀況下,公司將隨着內地和香港資本市場的發展更為韌性地發展壯大。

海通國際還稱,在昨日的電話會議上,公司管理層仍對今年下半年的前景持樂觀態度,預計在一些重大交易推出後,公司融資業務的費用收入將回升。隨着3月份配股後財務狀況的增強,公司將抓住市場機遇,拓展優質融資融券業務。

海通國際預計,由於資產管理和保證金融資業務的增長,國泰君安國際的收入在2020-22財年將同比增長0.6%/18.5%/16.5%;淨利潤將同比增長29.1%/19.3%/18.3%。該行認為公司估值對長期投資者具有吸引力,首次覆蓋並予其“跑贏大市”評級,目標價1.53港元。

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