[ET Net News Agency, 10 September 2018] Goldman Sachs lowered its target price for Hong
Kong Exchanges (HKEX)(00388) to HK$292 from HK$295 implying a FY19E P/E multiple of 33x,
and maintained its "buy" rating.
The research house adjusted its EPS estimates by -2%/-1%/-1% for FY2018-20 to
incorporate August 2018 volume data. It does not view these changes as material, and there
is no change to Goldman's investment thesis.
Goldman said downside risks inclued lower-than-expected revenues on lower market
volumes; slower traction on China Connect initiatives. (KL)