UOB Kay Hian Raises HKEX TP to HKD556, 1Q Profit Far Exceeds Expectations
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UOB Kay Hian has raised its target price for HKEXfrom HKD545 to HKD556 following a strong first-quarter profit of HKD5.2 billion, a 27% increase that surpassed expectations. The broker highlighted better-than-expected core revenue, net interest income, and effective cost control, with net profit margin rising to 63.2%. The positive performance was attributed to increased trading volumes and a robust IPO market. UOB Kay Hian maintains a Buy rating on HKEX.
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