《大行報告》瑞信上調昆侖能源(00135.HK)目標價至12.5元 評級「跑贏大市」
瑞信發表研究報告指,昆侖能源(00135.HK)日前終於落實備受市場關注的項目分拆,宣布以409億元人民幣向國家管網出售管道資產,認為此次交易無論在時機、隱含估值及所得款項用途上均明顯勝過市場預期,因此預計對其股價短期內會有積極利好。
報告指,是次交易市帳率為1.9倍,明顯高於市場預期的1.4至1.6倍,預料所得款項有一半會用於特別股息,相當於每股派發2.5元。該行又指,餘下有約40%收益將用於擴張下游天然氣業務,反映其城市天然氣業務未來增長潛力更大,重申「跑贏大市」評級,目標價由10.8元上調至12.5元。
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