《大行報告》美銀證券上調中建材(03323.HK)目標價至10元 評級「中性」
美銀證券發表報告指,中國建材(03323.HK)公布今年首季按中國會計準則之純利為6.2億元人民幣,按年下跌76%,符合集團早前公布盈警的預料下跌超過70%。該行估計按國際會計準則,扣除永續債的預期利息派發,集團季度稅後純利僅3.36億元人民幣,按年下跌85%。撇除非核心項目,該行估計其首季核心純利4.43億元人民幣,按年下跌65%。
該行表示,集團首季盈利下挫料主因去年同期錄得12億元人民幣的公平值收益,以致有高基數效應,而且新型肺炎疫情亦導致銷量下跌。
美銀上調中建材股份目標價,由9.5港元升至10港元,評級維持「中性」,並上調集團今明兩年盈利預測12%至19%,以反映前景展望較佳。美銀認為,集團首季業績疲弱只屬暫時性,並對內地政府推出的基建刺激看法樂觀,加上近期全國需求持續強勁,相信中建材的盈利能力可回復正常。
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