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《大行報告》美銀證券上調粵投(00270.HK)2021/22年盈測 反映實際水價凍結
阿思達克 12-22 10:40
美銀證券發表研究報告指,粵海投資(00270.HK)公布2021至2023年香港供水協議的新定價機制,將採用水價扣減新機制,定價將將取決於需求量,每年水價將按節省的水量作出扣減,每年最大波動幅度為6,300萬元,佔該行預測淨收入的約1%。

報告指,預期輸港水量為6.15億立方米時,粵投2021至2023年供水價介乎48.24億至49.53億元;輸港水量若達8.2億立方米,收入則介乎48.86億至50.16億元。即使是供水下限,收入亦高於今年48.21億元的水價,勝過該行預期。

美銀因應水價調整,將2021至2022年每股盈測分別上調0.4%及0.9%,維持目標價為17.6元,重申「買入」評級,預期未來每股派息將穩定上升,今年度料升4%。

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