JPMorgan raised its EPS forecasts for HKEX for FY2026 to FY2028 by 2% due to expectations of higher net investment income and increased trading fees. However, it lowered the target price for June 2027 from HKD535 to HKD510, primarily because of a reduction in the target price-to-earnings valuation multiple. Despite this, JPMorgan maintained its Overweight rating on HKEX.
