大摩削港A股指目标:恒指降至26550点,沪深300降至4880点

格隆汇
Sep 04
摩根士丹利表示,鉴于宏观数据恶化、流动性及资金流前景收紧,且市场对政府加强资金流和财富管理的监管感到担忧,下调A股及港股多项股票指数目标价,包括把恒生指数至明年6月底的目标由28400点下调至26550点。 大摩报告预料,在新基准情境下,截至2027年6月底,恒指目标为26550点,5月时曾上调至28400点;恒生国企指数、MSCI中国指数及沪深300指数的新目标分别为8900点、80点及4880点,3项指数5月的预测为9900点、91点及5400点。 大摩还相应下调12个月远期市盈率预估。报告称,这些修正反映了宏观和盈利复苏的放缓、极低低配的常态化、港股IPO供给及限售股解禁带来的流动性收紧、美联储更趋鹰派的预期,以及年内官方对资本流动的收紧。大摩认为,人工智能和大语言模型取得的进一步进展惠及港股、中美关系的潜在改善,以及政策宽松加码的前景出现改善,是可能驱动其看多的因素。

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