Dama released a research report stating that while maintaining the Hong Kong Stock Exchange's “reduced holdings” rating, the target price was raised from HK$221 to HK$223. The forecast was updated after the Hong Kong Stock Exchange's first quarter results were announced, and the earnings per share growth forecast for 2024 to 2026 were slightly raised by 1.1%, 0.8% and 0.8%. Due to the Hong Kong Stock Exchange's increase in manpower and salary adjustments, the bank raised its total expenditure assumptions from 2024 to 2026 by 4.8%, 4.5% and 3.1%, respectively, leading to a decline in EBITDA profit margin, from 72.3% in 2023 to 70.5% in 2024.
大摩：维持港交所“减持”评级，目标价升至223港元
Tama: Maintaining the Hong Kong Stock Exchange's “Underholding” Rating, Target Price Raised to HK$223
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