[ET Net News Agency, 7 August 2020] Credit Suisse initiated coverage on HKEX (00388)
with an "outperform" rating and a target price of HK$462, the sole operator of cash and
derivatives markets, and post-trade infrastructure in Hong Kong.
The research house believes it is uniquely positioned to capture the opportunity of
connecting the mainland with the world. It forecast a 16.6% NPAT CAGR over FY2020-22.
Credit Suisse said HKEX's listing reform has made it an increasingly popular listing
destination for new-economy companies. It expects the trading velocity to structurally
rise to 94% for FY2021-22, from 90% in FY2020, compared to the average velocity of 77% for
2010-19. (KL)