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大和:中石化冠德(0934.HK)剝離資產或派特別息 升目標至5港元
格隆匯 07-23 14:06

大和總研發表研究報告指,中石化冠德(0934.HK)早前發表公告指,公司附屬榆濟管道公司同意出售而中石化榆濟管道分公司同意購買清豐支線、辦公樓物業及河南管理處配套設施,統稱剝離資產。該行認為這行動比預期快,重申買入評級,將目標價由4.2港元上調至5港元。

該行認為,交易比預期來得更早,對公司的影響比預期好,集團現價為2020年度市帳率0.6倍,認為該交易有助價值提升。該行續指,出售榆濟管道將產生一筆額外收入,完成後將擁有約24億元的淨現金,認為有機會派發特別股息。另外,該行將公司2020-22年每股盈利預測下調12-17%。

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