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《大行報告》花旗下調煤氣(00003.HK)目標價至13.5元指盈利質素已被市場高估
阿思達克 08-21 15:10

花旗發表報告指,煤氣(00003.HK)盈利質素可能已被市場高估,上半年業績遜預期,有關表現不足以支撐如此高的估值,包括明年預測市盈率31.6倍及市帳率4.4倍,以及收益率2.5%。

該行表示,公司預期由於天氣及社會動盪影響下半年香港銷量下降;內地城市燃氣之利潤亦收窄,主因燃氣價格上調計劃延後;而商品價格暴跌拖累集團新興環保能源業務之利潤下跌。

該行下調煤氣2019至2021年盈利預測9.7%至11.4%,而目標價亦由13.64元降至13.5元,以反映三大業務利潤下降,重申「沽售」評級。該行指,於香港公用股板塊中,首選是中電(00002.HK),因其利潤具防守性及較低市盈率。

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