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匯豐研究:公路股前景不明 行業首選深高速(0548.HK)及滬杭甬(0576.HK)
格隆匯 12-05 11:44

匯豐研究發表報告表示,今年10月份國家高速公路整體車流量按年升6.9%,較9月份之8.8%有所減慢,當中乘用車升8.2%、貨車僅升2.5%(9月份分別升9.8%及6%),相信貨車流量顯着下降主因中美貿易摩擦及宏觀經濟放緩所致。

報告補充,截至11月27日,已達到今年高速公路車輛ETC(電子收費系統)使用量超過90%的目標,至於全國各地仍在繼續對擬提議的貨車運價調整進行聽證,預期將於明年一月達最終決定。因此該行認為,明年公路收費收入前景有下行風險。

匯豐研究指,即使ETC政策和新貨車路費會在短期內造成不確定性,但該行覆蓋的大多數公司均採取穩定的股息政策,相信仍然是該行業的主要吸引力,行業首選為深高速(00548.HK)及滬杭甬(00576.HK),均予“買入”評級,目標價分別為12.1港元及9.5港元。

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