not vested
HK Exchanges & Clearing (388 HK) : BUY
Mkt. Cap: US$41,676m I 3m Avg. Daily Val: US$172.6m
Last Traded Price ( 18 May 2020): HK$254.80
Price Target 12-mth: HK$316.0 (24.0% upside)
Beneficiary of WVRs and secondary-listed companies’ inclusion in HSI
WVRs and secondary-listed companies’ inclusion in HSI strengthen Secondary listing
theme
New Greater Bay Area Financial Support Guideline set to strengthen HKEx’s position
Adjusted FY20/21F earnings down by 10% on declining investment returns
Maintain BUY with TP at $316
Source: DBS
https://researchwise.dbsvresearch.com/R ... ebjfkgaifc