《大行報告》美銀證券上調中金(03908.HK)目標價至21元 評級「買入」
美銀證券發表研報,將中金(03908.HK)目標價由16.5元上調21元,指出A股上市是中金公司的新起點。
該行指,中金宣布A股首次公開發行的新股發行規模上限從4.58億股增至14.38億股,A股上市後H股比例將攤薄至約33%。以其截至2019年底的每股賬面價值10.83元人民幣,以及中型A股券商的平均市淨率為1.7倍計,若A股定價為每股18.4元人民幣,是次將可籌集265億元人民幣,賬面價值計成為中國第7至9大券商。
美銀指,隨著增資後中金將有機會在未來2至3年內,成為內地頂級券商之一,表示由於發行價格及時間未最終確定,未有將A股上市納入預測中,但由於採用更高每日平均交易額及投資銀行收入預測,將2020至2022年收入預測提高17%至31%,重申「買入」評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.