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野村降华润燃气(1193.HK)评级至“中性”目标价下调至36港元
格隆汇 07-24 11:02

野村发表报告表示,下调对华润燃气(01193.HK)评级亦由“中性”下调至“中性”,将对其目标价由39.1港元降至36港元,此相当预测今年动态市盈率1倍,并基於预期公司今年盈利增长预测为15%(此前为18%)。

该行指,华润燃气今明两年的零售销气量增长预测,由原来的按年分别上升19%及18%,降至按年各升14%及16%,以反映由於宏观经济放缓,工商业用户的天然气消耗较预期疲弱。该行因而下调对集团今明两年的盈利预测分别3%及5%。

野村表示,华润燃气股价年初至今已上升24%,表现跑赢同业13%,相信已合理反映其估值相当於今年每股盈利16倍。在中资天然气分销商中,该行称,在行业中推荐中国燃气(00384.HK)及新奥能源(02688.HK),因两企有较高的核心利润增长。

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