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《大行報告》大摩下調招商證券(06099.HK)及華興資本(01911.HK)評級至「與大市同步」 首選中金公司(03908.HK)、中信證券(06030.HK)及東方財富(300059.SZ)
摩根士丹利發表研究報告指出,該行涵蓋的券商股在2022年的結構及策略上,將持續支持其表現,當中首選中金公司(03908.HK)、東方財富(300059.SZ)及中信證券(06030.HK),認爲中金的上行空間具吸引力,東方財富市場份額增加,另中信證券在幾乎所有業務線均有全面發展。 該行指出,在提前釋放流動性及逆週期寬鬆措施下,預期2022年首季的流動性增加,或對如東方財富、廣發證券(01776.HK)及HTSC(06886.HK)等對流動性較爲敏感的股份有利。而以主板爲基礎的IPO潛在進展,以及香港IPO渠道改善,將有利於具強大投資銀行業務的中金及中信證券。此外,該行認爲當局對於某些互聯網獨角獸和離岸上市規則的任何監管明確或結論,將有利中金。 此外,該行認爲在宏觀環境不確定下,將其所涵蓋的股份目標價平均下調2%(詳見另表),並將招商證券(06099.HK)及華興資本(01911.HK)評級下調至「與大市同步」。
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