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大摩下调太航(2343.HK)目标价至2.11港元评级“增持”
格隆汇 07-30 11:48
大摩发表报告下调太航(2343.HK) 今明两年盈测分别67%及40%,目标价相应自2.91港元下调至2.11港元。该行相信市场已反映经济增长放缓对太航需求方的影响,目前风险回报吸引,加上铁矿石付运恢复,将带动波罗的海指数回升,环保新规亦将限制供应增长。
该行认为市场对干散货运明年展望过于悲观,预计明年利用率持平、灵便型干散货船运费按年提升12%至15%,主要由于小型货船供求关系改善,料太航2020年至2021年股本回报率可回复至约10%,目前估值吸引,维持“ 增持 ”评级。
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