《大行報告》瑞信引述東風(00489.HK)料A股年底掛牌 估或採措施提振H股股價
瑞信發表報告表示,引述東風集團(00489.HK)管理層稱其在A股上市計劃,料或可於今年年底完成,每股作價將不低於15元人民幣(其賬面值),此較其目前H股股價有較大價差,該行估計東風管理層或會採取措施,估計其或會上調派息比率至30%以上、進行股份回購及母公司進行增持,以提振東風H股的股價。
該行表示,重申對東風集團「跑贏大市」評級,上調目標價由10元升至10.8元,指公司為該行在內地汽車股的首選股。
瑞信表示,據中國汽車製造業協會數據,東風集團(00489.HK)旗下三大主營運領域,包括與本田合營、豐田合營及東風風神於今年10月銷量按年升11.5%,增速比行業按年升7%為快,而東風本田、東風豐田及東風風神期內銷售按年各升6%、20%及14%。
該行指,東風集團10月銷量增長高於該行今年下半年原先5%增長預測,該行決定輕微上調對東風於2020年至2022年每股經調整盈利預測各1.3%、1.1%及1.1%,各至1.1元、1.62元及1.6元人民幣。
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