《大行报告》摩通上调中建材(03323.HK)目标价至13元 评级「增持」
摩根大通发表研究报告,指中建材(03323.HK)上半年纯利录54亿元人民币,按年跌7%,达到市场对其全年预测的45%,在首季录超过70%跌幅後,第二季纯利录50%强劲增长,主要是受到基础营运改善及第二季投资及其他收入有更大增长。上半年每吨毛利为113元人民币,略较去年的每吨117元人民币为低。销售量为1.64亿吨,按年微跌3%。
该行将公司目标价由原来的12元上调至13元,相信近期水泥价格的上升势头及公司重组方面进一步明朗化,可支持继续估值重 评。另外,将其2020及2021财年的盈测分别上调9%及5%,以反映中期需求前景的能见度更高。维持「增持」投资评级。
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