《大行報告》大和降煤氣(00003.HK)評級至「持有」目標價下調至17.9元
大和發表報告表示,煤氣(00003.HK)今年以來股價累升約18%,跑贏本港公用板塊同業4%至18%及恆指16%,煤氣今年上半年純利跌19%,撇除一次性項目因素後,經常性純利跌7%至約40億元,相當於對其今年經修訂每股盈測55%。
該行認為,煤氣中績遜預期,即使香港業務售氣放緩,但原先仍預期上半年經常性純利按年持平。不過,其內地公用業務及新能源業務疲弱令該行吃驚。
大和表示,下調煤氣2019至2021年各年每股盈測介乎8%至11%,將投資評級由「跑贏大市」降至「持有」,目標價由18.5元下調至17.9元,上按綜合方式估值。
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