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《大行報告》美銀證券下調光大國際(00257.HK)目標價至9.1元 評級「買入」
阿思達克 03-20 11:26
美銀證券發表研究報告,指光大國際(00257.HK)新垃圾發電(WTE)項目於去年創記錄新高,公司預期市場新的產能會下降,因政府補貼減少。該行預期今年WTE相關新產能減慢至2萬噸,2021年降至1.5萬噸,預期每1,000噸的提升可有助目標價提升0.2元。

該行指公司於目前有6.37萬噸的項目正待建,預期可於未來3-5年營運,有助其每股盈利增長20%。集團應收賬周轉天數正上升,相信將拖累其資產負債表及現金流狀況。

該行又指,去年公司每股登利升20%,符預期,下調今明兩年每股盈利預期11%及12%,以反映WTE項目新增產能下降,及補貼政策因素,目標價由11元降至9.1元,評級重申「買入」,因其估值吸引。

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