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花旗:料燃氣股天然氣銷售量可保雙位數增長 喜愛新奧及中燃
格隆匯 12-12 15:19

花旗發表報告指,中國天然氣消費量在今年11月按年上升4.9%至280億立方米,但按月計放慢0.8個百分點,併為今年以來增長最低的月份。增長減慢主要由於經濟放緩使發電需求下跌,以及天氣較正常温暖。至於城市天然氣分銷的月度消費量則按年增長8.8%,主要受煤改氣所推動。

花旗表示,雖然內地今年天然氣消費量增長可能稍低於該行原先預測的按年上升10%,但仍重申對中資下游天然氣行業的正面看法,因天氣因素似乎只屬暫時性,而且由於環境保護,內地以天然氣替代煤的政策仍在,加上大多在港上市的中資燃氣分銷商的天然氣銷量料可保持雙位數增長。

在中資天然氣行業中,該行偏好新奧能源(02688.HK)的正自由現金流,及其綜合能源業務的長期增長,對該股評級為“買入”,目標價101港元。另外,花旗亦看好中國燃氣(00384.HK)的良好盈利增長及有更多的農村煤改氣項目,對其評級亦為“買入”,目標價36港元。

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