[ET Net News Agency, 29 July 2020] HSBC Global Research raised its target price for
HKEX (00388) to HK$350 from HK$285 and maintained its "hold" rating.
The research house said HKEX's share price has exceeded its historical high and has
recorded year-to-date performance of 44%, supported by the ADR home-comings and unicorn
listings news pipeline.
Trading at 41.4x forward PE, the valuation of the stock is above its five-year average.
While HSBC sees the company is well supported by long-term growth from new listings and
products, near-term earnings impact and prospects seem priced in. (KL)