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《大行報告》花旗升中國建材(03323.HK)評級至「買入」 上調目標價至9.7元
阿思達克 01-02 14:38

花旗發表報告表示,上調對中國建材(03323.HK)投資評級,由原來「中性」升至「買入」,目標價由7.8元調高至9.7元,此相當預測2020年市賬率0.78倍(高於此前0.72倍)及市盈率5.1倍,對其2020年股本回報率預測同時由8.9%上調至12.9%,2021年股本回報率預測由8%升至12.8%,相信公司未來數年債務降低,資產負債表可望改善。

該行指,內房市場於2019年下半年開始強勁,料可支持2020年上半年建築需求,兼且內地政府積極推動今年基建投資;該行估計內地水泥供應端今年增產空間有限,估計內地今年水泥毛利率可適度擴張。

花旗調高對中國建材於2020年及2021年純利預測各49%及72%,各至144.34億及161.35億人民幣,並輕微調高公司於2020年及2021年每噸水泥毛利預測各2%及8%,均至117元人民幣,並相信進行國企改革可成股價催化劑。

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