You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》匯豐研究下調龍工(03339.HK)目標價至2.9元評級「買入」
阿思達克 07-02 15:18

匯豐發表研究報告指中國龍工(03339.HK)過去三個月股價累跌19%,同期國指僅跌約4%;報告估計,裝載機銷售遜預期(首五個月按年僅升0.2%)料屬主要原因。匯豐稱,內地建築機械產品正經歷與以往不同的需求周期,重置周期延長。現時內地起重機及混凝土機械需求最大,源於減排標準提升。匯豐稱,須注意龍工沒有涉及這範疇。

報告稱,裝載機安裝分布正逐漸倒退,或限制產品銷售。匯豐下調今明兩年裝載機行業銷售增長預測,由原先的雙位數增幅降至約7%。這亦是匯豐下調龍工2019至2021年每股盈測介乎8%至10%的主因。

匯豐表示,留意過去數季龍工估值相當於預測市帳率約1倍,市場或以下行周期為估值基礎,該行認為過於悲觀。匯豐稱,龍工財政狀況強勁,料可支持維持穩定派息比率介乎50%至60%。匯豐下調龍工目標價,由3.4元降至2.9元,相當於預測市帳率由1.4倍降至1.2倍,評級「買入」。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account