《大行報告》高盛降華潤燃氣(01193.HK)評級至「沽售」目標價下調至36.5元
高盛發表研究報告,下調對華潤燃氣(01193.HK)銷量增長的預期,主要由於經濟環境轉弱,以及使用率降低(尤其是出口導向廠房)所致。
該行又指,華潤燃氣股價年初至今累升約36%,跑贏大市(同期MSCI中國指數升10%,國指升7%,同業升16%)。此外,該行相信公司上半年銷量將差過早前指引;而早前公司股息回報率強勁支持股價,但該股股價跑贏大市後,目前股息回報與同業同步。
為反映天然氣消費量增長預測下調,及潛在接駁業務利潤率受擠壓,高盛下調潤燃2019至2021年各年每股盈測分別1%、4%及3%。該行將華潤燃氣評級由「中性」降至「沽售」,目標價下調8%至36.5元。
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