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《大行報告》摩通:中燃(00384.HK)股東減持消除短期沽售壓力 惟料短期催化劑有限
阿思達克 04-17 10:39
摩根大通發表研究報告,指中國燃氣(00384.HK)第三大股東南韓SK集團旗下SK E&S,以較上日(16日)收市價折讓9.5%至13%,配售10.25%股權,每股作價21.15至22元,以籌集約15億美元一事,相信交易並不令人意外,因SK集團正受低油價所困擾。摩通予中燃目標價26.6元,評級「中性」。

該行稱,完成交易後,SK E&S將不再直接持有中燃股份,而公司股價本年至今跑輸同業10%,相信有關交易將消除股份短期沽售壓力,同時公司近期股價亦已反映今年較弱的氣體銷售增長展望。

摩通又指出,因應公司即將於6月底公布業績,預期在此之前短期催化劑有限,目前摩通對其2020年度的每股盈利預期較市場低6%,未來數周亦有下調風險。行業中,較看好新奧能源(02688.HK)和華潤燃氣(01193.HK),均予「增持」評級,增長展望較佳。

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