麥格理:下調中車時代電氣(3898.HK)評級至“跑輸大市”
麥格理髮表研究報告指,從渠道調查得悉中國第三階段的刺激政策於未來一至兩季出台,因政府正在制定新的政策防止經濟進一步下行。該行相信建築類機器公司從6月放寬地方政府債發行政策中率先受惠,但現時的刺激政策仍未利好各個行業,其中工程與建築合約商、機車車輛公司繼續受困於去槓桿的政策。
該行指,機車車輛公司因高債務負擔和缺乏海外新訂單而失色。在去槓桿的政策下,預期鐵路機器的訂單會於明年維持疲弱,令行業評級被進一步下調。
該行下調中車時代電氣(3898.HK)
評級
至“
跑輸大市
”,中車(1766.HK)
和中國通號(3969.HK)
降至“
中性
”。以行業分類,行業偏好依次為機器制商公司、工程與建築合約商、機車車輛公司。
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