美银:香港交易所(00388)第三季业绩胜预期 维持目标价520港元

智通财经
Nov 06, 2025

智通财经APP获悉,美银发布研报称,香港交易所(00388)今年首九个月净利润134亿元,同比增长45%,优于该行预期的39%。第三季净利润49亿元,同比增长56%,创历史新高。报告提及,由于预期费用收入增加,上调港交所2025至2027财年盈利预测3%,维持目标价520港元不变,重申“买入”评级。

美银预计,2026至2027年底线增长为8%,低于2025财年的28%。该行认为,从目前150%的水平进一步提高市场成交量较为困难。因此,除非整体市值上升,否则成交额本身不足以推动港交所的收入。主要增长动力预计来自衍生产品,包括扩大目前的每周股票期权,港交所上周已开始涵盖更多股票及零日期权,以引起新的投资兴趣。

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