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《大行报告》大和上调玖纸(02689.HK)目标价至13元 评级「买入」
阿思达克 11-20 09:53
大和发表研究报告指,中国宣布逐步减少进口外国废料,将推动瓦楞纸箱(OCC)价格上升,认为玖龙纸业(02689.HK)於今年下半年每吨纸品盈利可达到近十年新高,上调对玖纸目标价,由12元升至13元,维持「买入」评级,此相当预测市盈率9倍,上调对其明年每股盈利预测4%。

该行指,尽管公司财务总监兼执董张元福沽售持股,为股价带来波动,但认为玖纸基本面仍然稳健,下半年每吨纸品利润由上半年的300元人民币提升至380元人民币,创十年迎高,认为现时股价调整为买入时机。

大和表示,内地当局今年再收紧限塑令,包括禁止即弃塑胶用品的生产及使用等。该行预期对纸业有长远利好作用,相信可为玖纸带来额外500万至600万吨的纸箱需求。

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