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匯豐: 將新奧能源(2688.HK)目標價上調至94港元 予“買入”評級
格隆匯 12-13 17:08

匯豐發佈報告稱,內地近期宣佈國家管道公司將會由國有能源企業手上接收控制主要石油及天然氣輸送管道,允許第三方接駁以吸引更多投資。該行認為,此舉為行業改革的重要一步,由於規模擴大,單位運輸成本預計可下降,而且天然氣公用行業可有更多資源選擇。

該行表示,雖然對改革的潛在好處看法積極,但國家管道公司實現預期效果的過程或會很長,即使對基本面的影響現時難以量化,但相信有關預期已經反映。

該行表示,天然氣行業中,該行喜好新奧能源(02688.HK) ,目標價由93港元上調至94港元,予“買入”評級,因集團正在達到銷氣量及單位毛利指引的軌道上,而且其綜合能源業務也可提供額外的增長支持。該行還表示,相信港華燃氣(01083.HK)為行業黑馬,升評級由“持有”至“買入”,目標價由5.8港元升至6港元,預計當俄羅斯天然氣進口後,集團目前在吉林及遼寧的相關項目至2024年的銷氣量年均複合增長率可達24%。此外,該行下調對北控(00392.HK)評級由“買入”至“持有”,目標價由45港元下調至36港元,因其持股40%的京陝管線是否重組至國家管道公司仍未清晰。

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