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瑞信:下調中鋁(2600.HK)目標價至3港元 評級“跑贏大市”
格隆匯 10-30 15:16
瑞信發表報告指,中鋁(2600.HK) 今年首九個月純利按年下跌44.7%至8.08億元人民幣,代表其第三季純利按年跌84%至1.03億元人民幣,相信利潤下降主因需求疲弱,導致鋁和氧化鋁價格下跌。
該行下調對中鋁今年至2021年的盈利預測分別29%、22%及28%,至10億、14億及18億元人民幣,以反映毛利率較低的假設。另外,瑞信又將集團股份目標價,由3.2港元下調至3港元,評級維持“ 跑贏大市 ”。
瑞信表示,中國鋁土礦供應短缺將繼續支持氧化鋁價格,雖然面對鋁需求下降的挑戰,但預計氧化鋁是明年少數價格可能會上升的工業商品。

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