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《大行报告》大和升润燃(01193.HK)目标价至43元评级「跑赢大市」
阿思达克 07-30 14:28

大和发表报告指,华润燃气(01193.HK)股价由7月15日开始已调整了6%,相信是反映在工业活动放缓的情况下,市场忧虑集团今年上半年增长缓慢,仅略高於10%。

该行表示,润燃在今年至2021年的收益率料可扩张1.1个百分点,优於同业的0.4至0.7个百分点。另外,集团有长期稳定的每年60亿至80亿元资本开支用於城市天然气,使自由现金流上升,因此相信其已进入收成期。

大和对润燃股份目标价由42元上调至43元,评级维持「跑赢大市」。该行认为,由於资本开支长期稳定,预期集团的每股派息长期每年有10%的增长,派息比率由2018年38%,提升至2024/25年50%。以目前股价水平而言,於2030年的股息收益率可达8%。

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