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美银美林下调太平洋航运(2343.HK)目标价至1.85港元评级“买入”
格隆汇 08-22 11:22

美银美林报告指将太平洋航运(02343.HK)2019-21年经营溢利预测降2,000-3,000万美元,以反映上半年业绩表现、IFRS-16调整的影响以及对2020年乾散货航运价的展望,将公司目标价由1.95港元降至1.85港元,重申“买入”评级,认为乾散货航运市场已自今年上半年的低位复苏,未来航运价格将有改善。

该行指出乾散货航运市场已见复苏,相信波罗的海灵便型船运费自8月起按年转正,而航运价格应维持向上,主要受惠季节性因素及国际海事组织(IMO)未来数月瓦解。美银美林估计2020年乾散货运价将按年复苏,主要受惠供需平衡正面以及来自IMO明年供给侧瓦解的推动,惟考虑到今年上半年宏观环境弱势、上半年运价令人失望,该行亦将2020年波罗的海指数预测由1,600降至1,450,反映行业将由今年的亏损状态改善至明年收支平衡。

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