交銀國際:上調福萊特玻璃(6865.HK)目標價至8.06港元 評級“買入”
交銀國際發佈報告稱,上調福萊特玻璃(6865.HK)目標價22.1%,由6.6港元調高至8.06港元,重申“買入”評級。
該行認為,近期通威等光伏製造龍頭企業紛紛公佈擴產計劃,反映了行業對組件需求增長的樂觀預期,同時認為光伏玻璃長期競爭格局穩定,龍頭在整個光伏製造產業鏈中更具長期投資價值。
該行表示,光伏玻璃行業新產能投產時間將推遲,從而減少全年供應,而需求雖有延遲,但總量基本不變,因此預計玻璃價格下跌的時間將延至下半年,跌幅將低於此前預期。
基於業績預告,下調福萊特玻璃2019年每股基本盈利預測6.9%;基於行業前景向好,上調玻璃均價預測,並調高其2020及2021年每股基本盈利預測7.9%及9.1%。

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