《大行报告》瑞信将东风集团(00489.HK)目标价上调至11.8元 评级「跑赢大市」
瑞信发表研究报告指,东风集团(00489.HK)公布将会自其股份在A股上市後的三年内,把其派息比率由现时的15%升至不少於40%。该行又引述公司指,其A股IPO有机会在今年底前完成,意味其派息比率在2020至2022年有机会提高至不少於40%。
该行又指,公司管理层指引其A股发行价不会低於每股15元人民币,即现时其账面价值,有见与公司的H股最新股价8.12元存在约54%的巨大差距,管理层认为高派息比率将会提振H股股价,从而促进A股上市。
该行将公司2020至2022年的派息比率预测由原来的30%上调至40%,因此目标价由原来的10.8元上调至11.8元,并认为2021年的股息率预测升至9.4%将会触发再评级。维持公司「跑赢大市」投资评级。
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