金吾财讯 | 港交所(00388)午后维持高位，截至发稿，涨2.85%，报448.2港元，成交额25.14亿港元。港交所将于2025年8月20日公布第二季业绩。花旗报告指，该行预测港交所第二季归属股东净利润为40亿港元，按季下降1%，按年增长28%，与市场预期基本一致。总收入预计达68亿港元，按季下降1%，按年增长26%，主要受惠于港股日均成交额达2,380亿港元，按季下降2%，按年增长95%的强劲表现。投资收益预计维持在13亿港元水平，较高的保证金基金收益抵消了公司资金及结算基金收入的下降。截至2025年6月，IPO申请数量达207宗，较2025年3月的120宗显着增加。拼多多(PDD.US)近期更换审计机构，亦暗示其可能在香港进行第二上市。基于更高的港股日均成交额预测，料2025至2027年分别为2,300亿、2,150亿，以及2,360亿港元，花旗将港交所2025至2027年每股盈利预测上调12%至15%。目标价由385元上调至490元，相当于预测2025年市盈率39倍。维持“买入”评级，主要基于强劲的港股成交表现及充实的IPO项目。
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.