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高盛下调中石化(0386.HK)及上石化(0338.HK)目标价评级维持“中性”
格隆汇 07-16 11:05

高盛发表研究报告,指精炼和化学品差价不大,加上第二季油价较预期低,降中石化(00386.HK)及上石化(00338.HK)盈利预期,评级维持“中性”,前者目标价下调约5%至6.65港元,後者下调12%至3.4港元。

该行指,中石化的化学相关业务利润第二季表现疲弱,而石化产品价格于第二季在中国有下跌的情况,预期是供过於求的反映,但相信中石化在分销和零售网络有竞争优势。

该行降中石化今年每股分派预测8%至每股0.37元人民币,相当於90%的自由现金流,股息收益率降至8.1%;而上石化每股分派预期则下调10%,以反映盈利下跌。

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