大和:公用股將迎來多個催化劑 看好電能(0006.HK)及粵海投資(0270.HK)
大和發表行業報告指,香港公用股成交量備受近期示威活動影響,該行偏好有固定合同或較少受電價不確定影響的股份。其中,看好收益率強勁的電能實業(0006.HK)及收益率有增長的粵海投資(0270.HK),均予其“優於大市”評級,目標價分別為55港元及16.52港元。至於長江基建(1038.HK)受英國脱歐的影響料於12月至明年1月逐漸消退,予其“買入”評級,目標價為52.95港元。
大和稱,香港公用股於今年第四季底至明年首季將有多個催化劑推動,包括美國聯儲局減息將可支持行業估值;英國水務公司Northumbrian Water重訂回報率及英國即將大選等均有望刺激長江基建股價上升。
另外,港府或會控制港燈(2638.HK)及中電(0002.HK)明年基本電價調整幅度在每度電升0.06港元及0.03港元。雖然基本電價上調幅度低或會影響投資情緒,但該行預期港燈及中電在准許回報率8%下,明年純利可維持不變。

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