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摩通:降信義玻璃(0868.HK)評級至“中性” 目標價升至11.1港元
格隆匯 01-15 10:46

摩根大通發表報告表示,信義玻璃(00868.HK)股價由去年8月至今累升44%,與玻璃價格改善同步,不過在華南及華東地區產能增加下,對今年局部地區之玻璃價格帶來壓力,尤其是信義玻璃於上述地區的收益佔比達60%,料會拖累盈利下降6%,故將其評級由“增持”降至“中性”。該行更稱,於建材板塊中,看好安徽海螺水泥(00914.HK)及華潤水泥(01313.HK),看淡中國建材(03323.HK)。

報告補充,即使對預期行業產能增加感到審慎,但在行業毛利率於去年下半年擴張下,上調信義玻璃2019至2021年度盈利預測介乎7%至16%,目標價相應由10.7港元升至11.1港元。

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