Glonghui, Feb. 23 | Lyon released a report saying that the Hong Kong Stock Exchange will announce its full year results on February 29. It is expected that net profit after tax for the last quarter will drop 5% year-on-year due to the slump in the market. The bank predicts that earnings per share will increase by 20%, decrease by 1% and increase by 4%, respectively, from 2023 to 2025. The report is expected that management will respond to investors' concerns about sluggish trading and the market's disapproval of the Hong Kong Stock Exchange's valuation premium. The bank lowered its target price from HK$369 to HK$297, but reiterated the “buy” rating because of the stock's defensive profitability, improved return on investment, and low valuation demand.
大行评级｜里昂：下调港交所目标价至297港元 预计上季税后净利润将按年下降5%
Bank Rating | Lyon: Lowering the target price of the Hong Kong Stock Exchange to HK$297. Net profit after tax for the previous quarter is expected to drop 5% year-on-year
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