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大和下调嘉里物流(00636.HK)目标价至11.8元 评级「买入」
阿思达克 04-23 10:14
大和发表研究报告,指嘉里物流(00636.HK)管理层指,因应今年新冠疫情的影响,对今年物业需求前景展望审慎,虽然今年至今的影响温和,但预期首季盈利录跌幅,主因2月份中国停工所致,但规模可控。

该行指,综合物流业务表现稳健,特别是台湾和泰国,香港的饮食业受影响,预期未来数季仓库的租用率下跌。公司於首季空运业务亦见上升,同时费用较平时高5倍,旗下空运服务至5月中录100%预订,而海运则见亏损,因部份订单见取消。

大和表示,嘉里物流管理层指目前内地80%的营运已复工,3月份已录盈利,4月份业务见增长。管理层又指,未来3-6个月国界之间的限制料不会解除,故需求难见「V形」反弹。该行降今年每股盈利4%,2021年至2022年有强劲增长,目标价由12元降至11.8元,评级「买入」不变。

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