Citi: Cuts HKEX (00388) Target Price to HK$455, Maintains "Buy" Rating

Citi issued a research report stating that it has slightly lowered its target price for HKEX (00388) from HK$460 to HK$455, maintaining a "Buy" rating. Based on HKEX's third-quarter results and October trading data, the bank has cut its earnings per share forecasts for fiscal years 2026 to 2028 by 1% to 2%, reflecting a 1% downward revision to its forecast for average daily turnover of Hong Kong stocks and weaker derivatives trading performance in October. Citi currently expects the average daily turnover of Hong Kong stocks to reach HK$254 billion in 2027.