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<Research>Nomura Forecasts HKEX (00388.HK) 2Q24 NP to Grow 10% YoY to $3.2B
Recommend 12 Positive 14 Negative 5 |
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Nomura released a research report, saying that with the improvement in trading activities, the market is looking forward to HKEX (00388.HK) recording YoY and QoQ growth in revenue and earnings. The broker predicted HKEX's revenue for 2Q24 to reach $5.5 billion, up 9% YoY and 5% QoQ. Net profit is forecasted to grow 10% YoY and 8% QoQ to $3.2 billion. In addition, Nomura also forecasted HKEX's 2Q24 EBITDA to elevate 9% YoY and 7% QoQ to $4.0 billion, with an EBITDA margin of 72.6%. Taking into account the 13% YoY and 17% QoQ increase in average daily turnover of the Hong Kong market during the period, the broker estimated HKEX's cash trading, clearing and depository fees to reach $2.079 billion in 2Q, lifting 10% YoY and 22% QoQ. However, Stock Connect-related revenue is expected to fall during the period due to lower A-share transaction fees and lower Northbound trading turnover. Nomura rated HKEX a Buy and inclined its target price from $330.58 to $332.74. AAStocks Financial News |
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