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<Research>CICC TP for HKEX $500; Focus on Capital Reallocation Opportunities Amid Strong Fundamentals & Stagnant Valuation
Recommend 10 Positive 11 Negative 8 |
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HKEX (00388.HK)'s 3Q25 total revenue grew by 45% YoY to $7.775 billion, CICC released a research report saying. Excluding investment income, prime operating revenue rose by 62% YoY to $6.71 billion. Profit increased by 56% YoY to $4.9 billion, beating market expectations, mainly due to the rapid growth of various market-related businesses due to active trading and relatively solid investment income. Therefore, CICC largely maintained its 2025-2026 earnings forecasts for the Company unchanged, and kept rating/ target price at Outperform/ $500, corresponding to a PE ratio of 37x/ 36x for 2025/ 2026, with an 18% upside. AASTOCKS Financial News Website: www.aastocks.com |
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