Hong Kong Exchanges and Clearing Ltd
00388: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HK$136.00 | Vhkl | Sshznlyhx |
Hong Kong Exchanges Earnings: The Close of a Challenging Year Proves the Resiliency of Its Model
We raise our fair value estimate for wide-moat Hong Kong Exchanges and Clearing, or HKEx, by 2% to HKD 307, following full-year results, reflecting the time value of money. At current prices, the exchange’s share price screens as undervalued, which we attribute to the market being overly focused on the woes of China’s economy.