JPMorgan: Cuts HKEX (00388.HK) target price to HK$490, lowers turnover and earnings forecasts

Zhitong Finance APP has learned that JPMorgan released a research report stating that it has lowered the target price of HKEX (00388.HK) from HK$520 to HK$490, while maintaining an "Overweight" rating. In response to lower turnover forecasts, the bank has cut HKEX's earnings per share forecasts for 2026 to 2028 by 1%, 3%, and 3%, respectively, which are 4%, 6%, and 7% below market expectations, respectively.