Goldman Sachs: Upgrades Hong Kong Exchange (00388.HK) profit forecast, target price raised to 509 Hong Kong dollars.

According to the Wise Finance APP, Goldman Sachs released a research report stating that Hong Kong Exchanges and Clearing Limited (00388.HK) second-quarter performance exceeded expectations, mainly driven by higher-than-expected investment income. Excluding investment income, core profit increased by about 40% year-on-year, in line with expectations. The average daily turnover in the spot market nearly doubled year-on-year. Taking into account the second-quarter performance and recent market trading volume, Goldman Sachs raised its earnings per share forecast for HKEX in 2025, 2026, and 2027 by 3%, 1%, and 2%, respectively. They reiterated their "buy" rating and raised the target price from 500 Hong Kong dollars to 509 Hong Kong dollars.