麦格理:予中国燃气(0384.HK)目标价33.7港元 评级“中性”
麦格理发表报告称,中国燃气(00384.HK)确认黑龙江政府将要求中石油帮助建设当地的天然气管道以作俄罗斯天然气输送,而不是由北京燃气(06828.HK)、中燃、新奥能源(02688.HK)及陕西燃气共同拥有的黑龙江省天然气管道公司。麦格理表示,维持中燃的每股盈利预测,将其投资评级由原来的“跑赢大市”下调至“中性”,目标价33.7港元,仍对中燃的农村住户煤转气业务、及潜在燃气需求增长抱正面态度。

该行相信,由于中燃在黑龙江的城市燃气项目中有75%市场份额,因此仍有望实现可观的燃气销量增长,并预期公司的东北地区天然气销量年复合增长将会在2019至2026财年达到25.4%,2019至2031财年达21%。
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