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《大行報告》瑞銀下調中鐵(00390.HK)目標價至5元 評級「買入」
阿思達克 11-02 10:46
瑞銀發表研究報告,指出在中鐵(00390.HK)第三季的新合同按年增長25%,主要的增長動力是來自公路板塊。該行相信,第二季及第三季的新合同增長將會令今年下半年及明年上半年的收入增長提速。

另外,該行預期公司會有更多現金建設項目,將導致有更快的現金流周轉。此外,公司的毛利率亦有所上升,尤其是鐵路項目。根據管理層所述,中鐵建及中鐵正積極與國家鐵路集團商討,以尋求更合理的定價機制。

該行將公司的目標價由原來的6.1元下調至5元,以反映預期其2021年的每股盈利因銷售及行政開支增加而下跌2%。維持「買入」投資評級。

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