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《大行報告》招商證券升港交所(00388.HK)評級至「增持」 目標價356元
招商證券國際發表報告指,港交所(00388.HK)上半年淨利潤增長31%,對比首季增長爲28%,主要來自於利率上升帶動淨投資收益創歷史新高,以及衍生品日均成交上升所推動。 該行指出,上半年聯交所股票產品日均成交額按年跌14%,股市低迷拖累IPO集資額下降約9%。展望未來,招商證券認爲現時的經營環境可能對港交所發展有利,除因爲美國加息週期可能已接近尾聲外,亦憧憬中國當局將出臺刺激經濟措施,宏觀層面的利好料爲港股市場帶來新動力。 招商證券將今明兩年收入及其他收益預測上調7.7%及2.6%,EBITDA預測上調9.8%及3%,純利預期則調升11%及3.4%,指出港交所現價爲今年預測市盈率的約29.3倍,低於過去五年平均水平,維持目標價爲356元,評級則由「持有」升至「增持」。
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