UBS: Lowered Hong Kong Exchanges and Clearing Limited (00388.HK) target price to HKD 471, rated "Neutral"

The WiseFinance APP learned that UBS released a research report stating that it has lowered the target price of Hong Kong Stock Exchange (00388.HK) from 485 Hong Kong dollars to 471 Hong Kong dollars by 3%, mainly reflecting UBS's latest view on the Fed's rate cut. The rating is "neutral". The bank stated that considering the market activity since the fourth quarter, the bank has raised its 2025 fiscal year daily average transaction volume forecast from 250 billion Hong Kong dollars to 259 billion Hong Kong dollars. The report pointed out that the third quarter performance in 2025 met expectations, with revenue increasing by 45% year-on-year, exceeding market expectations by 3%, and net profit increasing by 56% year-on-year, exceeding market expectations by 4%. As they enter the fourth quarter, the Hong Kong Stock Exchange faces more severe base effects.