《大行报告》花旗升华润水泥(01313.HK)目标价至12.2元 重申为行业首选
花旗发表报告表示,上调对华润水泥(01313.HK)目标价,由9元升至12.2元,此相当预测今年市盈率9.1倍及市账率1.8倍,以反映对公司今明两年股本回报较高的预期,重申为行业首选。
该行估计,内地水泥销量及售价均可按年上升,料今年水泥需求将可上升3%,主要受基建投资增加、内房需求保持稳定所支持,整个广东省东部於今年首季仅有一条新增生产线,相信不会对珠三角地区市场构成压力。
花旗指估计煤价回落可支持华润水泥毛利率表现,决定上调对润泥於2020年及2021年纯利预测各21%及29%各至93.29亿及96.13亿元,调高公司於2020年及2021年每吨水泥毛利预测各19.8%及24.5%,均至177元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.