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星展料中资券商股调整後供买入机会 可受惠下半年A股IPO回升
阿思达克 05-25 14:23
星展发表报告指,A股市场去风险化周期将结束,加上内地券商资产负债表转强,相信拨备减少的情况将会持续,与该行在首季看到的情况类似,首季内地券商拨备按年减少43%,拨备减少有助提升券商盈利,券商亦能更有效地调动资本。

另外,内地券商首季资产管理业务收入大增41%,主要由於管理资产增加及收费趋稳,相信未来仍将是内地券商的稳定收入来源,其中广发证券(01776.HK)、中信证券(06030.HK)及华泰证券(06886.HK)定位有利捕捉相关升幅。

报告指,内地券商股份现价为平均今年市帐率的0.8倍,估值吸引属买入机会,其中中信证券、中金(03908.HK)及广发证券为行业首选,目标价分别26元、29元及16.2元,评级均为「买入」。

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