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《大行报告》花旗升中国建材(03323.HK)评级至「买入」 上调目标价至9.7元
阿思达克 01-02 14:38

花旗发表报告表示,上调对中国建材(03323.HK)投资评级,由原来「中性」升至「买入」,目标价由7.8元调高至9.7元,此相当预测2020年市账率0.78倍(高於此前0.72倍)及市盈率5.1倍,对其2020年股本回报率预测同时由8.9%上调至12.9%,2021年股本回报率预测由8%升至12.8%,相信公司未来数年债务降低,资产负债表可望改善。

该行指,内房市场於2019年下半年开始强劲,料可支持2020年上半年建筑需求,兼且内地政府积极推动今年基建投资;该行估计内地水泥供应端今年增产空间有限,估计内地今年水泥毛利率可适度扩张。

花旗调高对中国建材於2020年及2021年纯利预测各49%及72%,各至144.34亿及161.35亿人民币,并轻微调高公司於2020年及2021年每吨水泥毛利预测各2%及8%,均至117元人民币,并相信进行国企改革可成股价催化剂。

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