中信里昂:升玖龍紙業(2689.HK)目標價至12港元 重申跑贏大市評級
中信里昂發表研究報告,將高玖龍紙業(2689.HK)目標價由9.4港元上調至12港元,重申跑贏大市評級。
該行稱,玖龍紙業2020財年經調整淨利潤按年增9.5%,優於預期11.7%,主要由於原材料成本及利息支出低過預期。該行提到,雖然存在新供應及結構性成本增加的風險,但在新型肺炎疫情後需求回升、第四季旺季及人民幣升值支持下,料紙業股今年下半年股價續有好表現。市場份額增加、原材料安全性及垂直整合將進一步擴大。
基於市場氣氛改善,調高其目標價及維持跑贏大市評級。

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