《大行报告》野村下调煤气(00003.HK)目标价至10.46元 评级「减持」
野村发表的研究报告指,煤气(00003.HK)上半年业绩一如预期疲弱,期内可持续净利按年跌21%至29.7亿元,主要因为中港燃气销量跌4%,而内地公用及新能源分部的税後经营溢利分别跌17%及25%,此外来自新能源分部的资产减值拨备达3.23亿元,派中期息每股0.12元符预期。
该行指出,假如政府放宽社交距离措施,香港的商用及工业用燃气需求或会恢复,但估计其他领域对盈利仍有拖累,包括是内地工业用燃气需求弱,加上政策倾向中小企,或会为利润带来压力,加上内地新能源板块的利润亦同样受压,将2020/21年净利预测分别降24%及18%,以反映中港燃气销量较低等的影响,将目标价由13.1元降至10.46元,评级「减持」。(el/a) ~
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