Bank of America Securities: Raises the target price for Hong Kong exchange to HKD 520, reiterates "Buy" rating.

On July 24, Jin10 data reported that Bank of America Securities released a research report stating that it expects the Hong Kong Stock Exchange (00388.HK) to have a net profit of HKD 8 billion in the first half of the year, which is a 31% rise compared to the same period last year. The average daily trading volume in the second quarter is expected to remain at a high level of HKD 238 billion (compared to HKD 122 billion in the same period last year), supporting strong trading fee income and settlement fee income. Bank of America Securities maintains its full-year profit forecast for the Hong Kong Stock Exchange and raises its profit forecasts for next year and the year after by 6% to 7%. The target price is raised from HKD 440 to HKD 520, equivalent to a projected combined price-to-earnings ratio of 40 times for 2025 to 2026, reiterating a "buy" rating.