《大行报告》大摩升中资券商H股目标价平均11% 上调招商证券(06099.HK)评级至「增持」
摩根士丹利发表研究报告表示,展望明年宏观经济复苏,中资券商行业持续改革及整固,抱正面看法,预计支持券商股表现的利好因素将延续下去,将中资券商H股目标价平均上调11%。
报告指,下半年内地注册制的IPO、沽空及债券发行均会增长,料明年将出台政策鼓励资本市场及基金进行养老金投资。该行又预期,市场对退市、债券发行法规以及上市公司质量关注度提高,将提升行业风险管理和质量控制水平。该行认为,龙头券商已占据不少市场份额,合并案可能会逐渐消失,中型券商可藉此机会发展,惟行业整合步伐将平稳。
大摩看好招商证券(06099.HK),相信通过与互联网公司合作,市场份额有潜在提升空间,而且与招行(03968.HK)有协同作用,将招商证券评级上调至「增持」,目标价升至14.64元,并将招商证券、东方财富(300059.SZ)、中金公司(03908.HK)及中信证券(06030.HK)列为行业首选。
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