瑞銀:首予中外運(0598.HK)“買入”評級 目標價3.2港元
瑞銀髮表報告首予中外運(00598.HK)“買入”評級,目標價為3.2港元。該行相信其估值折讓已經反映了宏觀不利因素及近期令人失望的表現,但不能忽視該公司對招商局物流及中外運跨境電商物流進一步整合而帶來的潛在利潤復甦,認為市場會對該股進行重新評估。
該行估計中外運2019至2021年之每股盈利年複合增長率為7%,較市場保守,但認為該公司上行潛力大,主因其資產組合的價值被低估,H股現價較A股折讓50%且股息收益率達4%至5%。
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