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<Research>CICC Trims HKEX (00388.HK) TP to $440, Expects 7% YoY Earnings Growth in 3Q
Recommend 28 Positive 44 Negative 21 |
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CICC released a research report predicting that HKEX (00388.HK)'s 3Q24 revenue will come in at $5.41 billion, marking a 6% YoY growth or remaining flat QoQ. It is also estimated that core business revenue, after excluding investment income, will rise 8% YoY but fall 1% QoQ to $4.15 billion, while earnings will hike 7% YoY to or remain flat QoQ at $3.15 billion. Based on adjusted transaction assumptions and changes in tax policy for 2025, CICC chopped its FY24-FY25 earnings forecasts for HKEX by 2% and 6%, and consequently cut the TP by 8% to $440, with an Outperform rating unchanged. AAStocks Financial News |
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