野村:上調潤燃(1193.HK)目標價至42.9港元 維持“中性”評級
野村發表研究報告指,隨着華潤燃氣(1193.HK)今年上半年銷售額及行政成本均較預期為低,調升2019至2020年的盈利預測各1%,亦指潤燃有兩個短期催化劑,包括單位利潤(Margin Dollar)可能於今年下半年復升,而股息亦有機會有所調升,因此上調其目標價約19.2%,由36港元至42.9港元,維持“中性”投資評級,而在中國天然氣板塊中,較看好新奧能源(2688.HK),予“買入”評級。
野村續指,鑑於自由現金流略有改善,並考慮到潤燃的往績,預期今年的派息比率會上調至42%,即股息率達2.3%,而隨着國家管道公司成立,潤燃將獲益匪淺。
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