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花旗:升海螺水泥(0914.HK)目標價至58港元 評級“買入”
格隆匯 10-28 15:18
花旗發表報告表示,海螺水泥(0914.HK) 第3季業績好過預期,將盈利預測上調4%至6%,較市場預期高出約2%至6%,目標價由57港元上調至58港元,重申“ 買入 ”評級。報告指出,受第3季度銷售量非常強勁帶動,抵消平均售價略低的影響,令海螺水泥中國會計準則下的淨利潤達到85.56億元人民幣,按年增長10%,按季下降6.8%,比該行的預期高出11%。
該行預計第4季度房地產市場疲軟將逐步改善,而基礎設施需求也在復甦,因此看好水泥行業,預計第4季度海螺水泥自產水泥和熟料的銷售量將按年增長3%,而第4季度的均價可能達到每噸357元人民幣,與去年同期持平,預期第4季單位成本會略為降低,每噸毛利達到174元人民幣。

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