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花旗:上调五矿资源(1208.HK)评级至“买入” 目标价降44.12%至1.9港元
格隆汇 09-03 13:35

花旗发表研究报告指,五矿资源(1208.HK)的利润率高于中国同业,而且近期股价回落已反映下行风险,续调高其投资评级,由“中性”上调至“买入”,惟宏观不确定性仍然对高杠杆的五矿资源构成挑战,遂把其目标价从3.4港元下调44.12%至1.9港元,反映“该公司矿业资产的寿命有限”。花旗表示,由于五矿资源位于秘鲁Las Bambas矿山的物流问题有所改善,其高风险因素已经消失。

另外,花旗指洛阳钼业(3993.HK)股价下跌后,将其H股评级从沽售”上调至“买入”,惟因盈利预测下调,目标价下调22%至2.5港元,A股目标价则下调19%至3.6元人民币,维持“中性”投资评级。

至于赣锋锂业(1772.HK),花旗把其A股评级从“中性”下调至沽售”,因对H股的溢价较高,续将其A股目标价下调34%至17.5元人民币。

此外,花旗把招金矿业(1818.HK)目标价上调53%至11港元,预计金价2022年可能达到每盎司1600美元,维持“中性”评级,主要由于该股估值高,并面临生产成本上升。

花旗又将江西铜业(0358.HK)2019-2020年盈利预测下调34%-51%,以反映铜价下跌,目标价从14.3港元下调9.09%至13港元,维持“评级。

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