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<Research>UBS Elevates HKEX (00388.HK) TP to $430, Keeps Rating at Neutral
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UBS published a research report expecting HKEX (00388.HK)'s 2Q25 NPAT/ revenue to increase 35%/ 30% to $4.3 billion/ $7 billion each, 11%/ 7% higher than market consensus, mainly due to better-than-expected net investment income (NII). The broker anticipated full-year NPAT/ revenue to rise by 16% YoY to $15 billion/ $30 billion.

UBS also raised its 2025/ 2026/ 2027 ADT forecasts by 14%/ 9%/ 8% to $218 billion/ $185 billion/ $208 billion, and EPS forecasts by 5%/ 2%/ 4% to $11.9/ $10.5/ $11.5, respectively. Therefore, the broker elevated its target price from $393 to $430, with rating kept at Neutral.

Related NewsBofAS Elevates HKEX (00388.HK) TP to $520, Expects 31% Increase in 1H25 NP

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