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<Research>CICC Trims HKEX (00388.HK) TP to $310, Expects 1Q24 Earnings to Fall 15% YoY
HKEX (00388.HK) plans to release its 1Q24 results on 24 April, CICC issued a research report saying. CICC expected revenue to fall 7% YoY to $5.17 billion. After excluding investme...
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<Research>CICC Trims HKEX (00388.HK) TP to $310, Expects 1Q24 Earnings to Fall 15% YoY
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HKEX (00388.HK)  +12.400 (+4.928%)    Short selling $121.20M; Ratio 11.509%   plans to release its 1Q24 results on 24 April, CICC issued a research report saying.

CICC expected revenue to fall 7% YoY to $5.17 billion. After excluding investment income, main business income is expected to drop 4% YoY to $3.84 billion, while profit will decrease 15% YoY to $2.89 billion.

Related NewsG Sachs Slightly Raises TP of HKEX (00388.HK) to $330, Lifts EPS Forecast
Considering changes in the interest rate environment and market volatility, CICC lowered its 2024/ 2025 earnings forecasts for HKEX by 5%/ 4% to $12.2 billion/ $13.4 billion. Due to market volatility, CICC trimmed its target price on HKEX by 14% to $310, with rating kept at Outperform.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-05-02 12:25.)

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