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<Research>Citi Elevates HKEX (00388.HK) TP to $490 as Stock Mkt Turnover Remains Strong
Recommend 18 Positive 21 Negative 10 |
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HKEX (00388.HK) will announce its 2Q25 results on 20 August 2025, Citi Research issued a research report saying. The broker forecasted 2Q25 net profit attributable to shareholders to be $4 billion, down 1% QoQ and up 28% YoY, largely in line with market consensus. Total revenue is expected to reach $6.8 billion, down 1% QoQ and up 26% YoY, primarily benefiting from the strong performance of the average daily turnover of Hong Kong stocks, which reached $238 billion, down 2% QoQ and up 95% YoY. PDD Holdings (PDD.US) recently changed its auditor, suggesting that it may pursue a secondary listing in Hong Kong. Citi Research elevated its target price from $385 to $490, equivalent to a projected 2025 PE ratio of 39x, with rating kept at Buy, mainly due to strong Hong Kong equity trading performance and a robust IPO pipeline. AASTOCKS Financial News Website: www.aastocks.com |
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