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《大行报告》里昂升华润燃气(01193.HK)目标价至42元亦看好港华燃气(01083.HK)
阿思达克 06-26 11:18

里昂发表研究报告,引述数据指2019年5月中国平均液化天然气进口每单位成本为8.7美元/MMBtu,较2018年12月高位跌22%,并按年跌6%,是27个月以来首次下跌。渠道天然气进口单价亦有下跌。

该行指,经过2017及2018年进口单位成本累积上升40%後,上述调整受市场欢迎,并可支持分销商毛利率。该行预期未来行业毛利率收缩放缓,上调华润燃气(01193.HK)2019-2021年盈利预测0%-3%,新奥能源(02688.HK)上调1%-5%。

里昂将华润燃气目标价由39元升至42元,新奥能源目标价由74元升至77元。行业中,该行偏好港华燃气(01083.HK)(给予「买入」评级,目标价7.4元)及华润燃气(给予「跑赢大市」评级);维持新奥能源「跑输大市」评级。

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