UBS: Raises target price of Hong Kong Exchange (00388.HK) to 344 Hong Kong dollars, rating it as "Neutral"

According to the Zhizhong Finance APP, UBS released a research report stating that the revenue and profit of the Hong Kong Stock Exchange (00388.HK) in the first quarter of this year exceeded expectations, and pointed out that the second quarter will face a more challenging base. The revenue and net profit in the same quarter of last year increased by 8% and 9% respectively. Considering the market activity so far in the second quarter, the daily average turnover for this year is expected to be raised from HK$159 billion to HK$170 billion. Operating expenses for the period have been reduced by 1% each, with earnings per share forecasts for the period raised by 6%, 4%, and 4% respectively, to HK$10.8, HK$9.7, and HK$9.9, respectively. The target price of the HKEX has been raised from HK$320 to HK$344, with a "Neutral" rating.