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野村:上调海螺水泥(0914.HK)至买入 降目标价至61.2港元
格隆汇 03-23 14:01

野村发表研究报告指出,海螺水泥(0914.HK)去年纯利为336亿元人民币,符合该行及市场预期,尽管新冠状病毒爆发,惟公司预期今年销售量保持稳定,上调海螺水泥H股投资评级至“买入”,惟将目标价轻微调低1.3%至61.2港元,以反映最新现金流预测。

野村已将海螺水泥今年出货预测由原来按年增长2%,调低至接近零增长,每股盈利预测亦因此下调1%,但野村认为公司目前股价吸引,建议投资者在旺季来临前收集股份。一旦中国政府推出的宽鬆政策在下半年的成效可显现,将不排除会调升公司今年的盈利预测。

野村续指,海螺水泥预期今年水泥和熟料出货量为3.18亿吨,按年下跌1.5%,主要是受疫情影响及中国今年首2个月水泥销售量按年跌29%。不过,该行指出,水泥销售量已持续在加速,由于第二季为行业旺季,估计4月初售价将会上涨。

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