Lyon: Raised target price for Hong Kong Stock Exchange to HKD 500, reiterating "outperform the market" rating.

Lyon released a research report stating that Hong Kong Exchanges and Clearing Limited (HKEX) has achieved record high revenue and profits for the second consecutive year, driven by the overall recovery of the Hong Kong capital market and strong operating leverage effect. In the last quarter, HKEX's revenue and net profit reached 7.26 billion Hong Kong dollars and 4.35 billion Hong Kong dollars respectively, both exceeding market expectations. HKEX has maintained a high dividend payout ratio for the long term. The firm has raised its target price from 374 Hong Kong dollars to 500 Hong Kong dollars, reaffirming its "outperform the market" rating.