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<Research>UBS Elevates HKEX (00388.HK) TP to $347, Expects 3Q Rev./ NP to Be Largely Flattish QoQ
Recommend 25 Positive 36 Negative 20 |
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UBS released a research report saying that HKEX (00388.HK) will announce its 3Q24 results on 23 October, and expecting quarterly profit after tax/ revenue to rise by 6%/ 7% YoY to $3.1 billion/ $5.4 billion, 6%/ 4% higher than the market consensus each. On a QoQ basis, profit and revenue are expected to be roughly flattish. UBS raised its 2024/ 2025/ 2026 average daily turnover forecasts for HKEX from $107 billion/ $121 billion/ $134 billion to $134 billion/ $146 billion/ $162 billion, reflecting the recent stock market rally and the Fed's interest rate cuts. The broker also lifted its 2024 EPS forecast for HKEX by 8% to $10.2, and kept 2025/ 2026 EPS forecasts unchanged at $9.5/ $9.9, respectively. UBS elevated its target price for HKEX from $253 to $347, with rating kept at Neutral. AAStocks Financial News |
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