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《大行报告》野村下调煤气(00003.HK)目标价至13.1元中期业绩疲弱
阿思达克 08-21 10:47

野村发表报告指,煤气(00003.HK)今年上半年业绩表现疲弱,经常性盈利按年下跌5.3%,逊该行预期的持平。业绩疲弱相信主因餐厅需求差及气温高於平均,使香港煤气销售逊预期;城市燃气分销的利润率受压;及人民币贬值。

该行表示,煤气中期每股派息符合预期,按年持平於12仙,相信集团在下半年的盈利表现仍会受到拖累,主要由於香港煤气销售持续疲弱,预期今年销气量按年跌3%,虽然影响可被本月起上调气价4.4%所抵销。另外,集团内地城市燃气分销量即使可继续有双位数增长,但料利润率将持续受压。

野村下调对煤气股份目标价,由13.84元降至13.1元,评级维持「减持」。今年每股经常性盈利预测亦下调2%,以反映煤气销量下降,及内地城市燃气分销利润率受压。公用股推荐港铁(00066.HK),评级「买入」,目标价56.6元。

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