Citi has released a research report reducing its price target for Hong Kong Exchanges and Clearing Ltd (00388) slightly from HK$455 to HK$455, while maintaining its "Buy" rating.
Based on the exchange's third-quarter results and October trading data, the bank lowered its earnings per share forecasts for fiscal years 2026 to 2028 by 1% to 2%.
This adjustment reflects a 1% reduction in the forecast for the average daily turnover of Hong Kong stocks, as well as weaker performance in derivatives trading during October.
Citi currently expects the average daily turnover of Hong Kong stocks to reach HK$254 billion in 2027.
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