《大行報告》大和降港交所(00388.HK)目標價至330元 爲市場反彈作好準備
大和發表報告,指港交所(00388.HK)簡化海外公司第二上市監管流程,並承認目前市場環境充滿挑戰,期望於環境有所改善時,能更好地歡迎外國發行人。港交所正投入大量資金作爲對有興趣在港上市的海外市場營銷,特別是中東及東盟市場。
港交所去年第四季營運支出按年增長12%,主要由於員工成本、資訊技術費增加及恢復疫情後的商務公幹。此外,公司管理層強調倫敦金屬交易所(LME)的業務增長(尤其是鎳業務的快速反彈)及基礎設施的改善。公司流動性亦有所增強。
該行對港交所今明兩年的經調整收入預測分別下調約1%至上調1%,並基於開支增加,對其淨利潤預測下調8%至13%。目標價由400元下調至330元,重申「買入」評級,認爲港交所爲市場反彈作好準備。
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