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《大行報告》匯豐研究上調嘉里物流(00636.HK)目標價至18元 評級降至「持有」
阿思達克 12-15 10:10
匯豐研究發表報告,指出嘉里物流(00636.HK)上半年的盈利主要受貨運代理業務所帶動,空運及航運量都有強勁復甦。下半年至目前為止,這趨勢只會進一步加強;而對於明年,國際航空運輸協會估計航空貨運量將按年增長13%,主要是受惠於經濟復甦及疫苗分發所致。至於航運,預期強勁的需求會持續至明年上半年。雖然近期的需求正面,但持續高企的運費或為貨運代理商帶來一定的利潤壓力。

該行又指,公司在本月1日宣布將KERRY EXPRESS(THAILAND)分拆到泰國上市,並已獲泰國證交會批准有關建議,預期建議分拆將於本月內完成。而該行相信,香港7個倉庫的變現很有可能會因為市場低迷而有所延遲。

該行將公司的目標價由原來的15元上調至18元,但將其投資評級由原來的「買入」下調至「持有」,指其股價自今年3月19日低位累升90%,相信很多因素已在股價上反映出來。

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