《大行報告》匯豐研究升港交所(00388.HK)評級至「買入」 目標價下調至320元
匯豐研究發表研究表示,相信港交所(00388.HK)可作為聯連中國與全球的平台,支持在岸金融市場穩定發展,在中國貨幣政策可能保持寬鬆取態下,預期港交所陸續推出改革,有助於增強競爭力。
該行指,市場對港交所過度看淡,年初至今其股價已累積下跌超過43.3%,跑輸同期指數表現,權衡風險回報後認為應有所改善,雖然股價回調可能是反映市場對日均成交量預期降低、ADR回流上市的推動作用減少、LME訴訟風險增加,以及利率上升及宏觀不確定性增加等不利因素。
然而匯豐研究指,看到港交所出現多個積極勢頭,包括持續連聯中國資本市場與國際資金,以及人民幣櫃檯、特專科技公司上市制度等多項升級措施即將推出,相信香港防疫政策放寬亦利好商業活動,可刺激更多資本市場活動,將評級由「持有」升至「買入」。目標價則由350元下調至320元,以反映該行將2023至2024年日均成交量預測下調至1,120億及1,250億元。
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