瑞信:升金隅(2009.HK)目标价至4港元 评级“跑赢大市”
瑞信发表的报告指,金隅集团(02009.HK)上半年盈利按年升26%至30亿元人民币(下同),表现好过预期,反映次季盈利按年增长0.03%至26亿元,期内盈利增长主要受惠销量提升及水泥产品提价,该行将公司2019-20年每股盈利预测分别升62%及39%,以反映对水泥价格的预测,重申评级“跑赢大市”,目标价由3.8港元升至4港元。

该行指出,期内水泥及熟料每吨毛利按年升13.5%,平均销售单价则按年升10.2%至每吨318元,而销售成本则升8.2%至每吨198元,主要是受环保开支增加影响,整体销量则按年升14.5%至4,997万吨。
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