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摩通:維持中石化煉化(2386.HK)“增持”評級 目標價降至5.4港元
格隆匯 02-20 12:03

摩通發表報告稱,將中石化煉化(2386.HK)2019-2021年盈利預測下調5%,估計2020至2021財年新訂單將同比跌5%及2.4%。該行指出,中石化煉化管理層在電話會議中強調,將提升股東回報以彌補近期的股價疲軟。

該行表示,考慮到其派息率多年維持穩定,現時股價水平為2020年市盈率約5.7倍,今年股息率約為7%,估值及派息吸引,因此下調目標價,由8.1港元降至5.4港元,較現價仍有約25%上行空間,維持“增持”評級。

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