大和:公用股将迎来多个催化剂 看好电能(0006.HK)及粤海投资(0270.HK)
大和发表行业报告指,香港公用股成交量备受近期示威活动影响,该行偏好有固定合同或较少受电价不确定影响的股份。其中,看好收益率强劲的电能实业(0006.HK)及收益率有增长的粤海投资(0270.HK),均予其“优于大市”评级,目标价分别为55港元及16.52港元。至于长江基建(1038.HK)受英国脱欧的影响料于12月至明年1月逐渐消退,予其“买入”评级,目标价为52.95港元。
大和称,香港公用股于今年第四季底至明年首季将有多个催化剂推动,包括美国联储局减息将可支持行业估值;英国水务公司Northumbrian Water重订回报率及英国即将大选等均有望刺激长江基建股价上升。
另外,港府或会控制港灯(2638.HK)及中电(0002.HK)明年基本电价调整幅度在每度电升0.06港元及0.03港元。虽然基本电价上调幅度低或会影响投资情绪,但该行预期港灯及中电在准许回报率8%下,明年纯利可维持不变。

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