《大行報告》美銀證券下調粵投(00270.HK)目標價至18.4元 評級「買入」
美銀證券發表報告,預期東江供港水價於2021年至2023年不會調整,因此下調對粵投(00270.HK)的香港供水業務收入於該三年的預測,由原來預計按年增長3%,調低至零增長。
該行又下調對集團明年至2023年的每股盈利預測分別1.4%、2.8%及4.1%,股份目標價由18.7元降至18.4元,評級則維持「買入」,主因股份現價相當於企業價值倍數(EV/EBITDA)8.4倍,而持續投資資本回報率逾10%。
美銀相信粵投業務今年將為穩定的一年,並有數個催化劑,包括東江水供港協議定價、水務項目收購及母企可能有資產注入等。
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