《大行報告》瑞信上調中聯重科(01157.HK)目標價至15.31元 評級「跑贏大市」
瑞信發表研究報告指,中聯重科(01157.HK)完成A股非公開發行,計及H股發行,定向增發集資金總額達到61.5億元人民幣,預期所得款項將用於升級及擴充現有業務。
該行指,中聯重科於2021年1月份止首季需求表現非常強勁,公司旗下混凝土機械、卡車與履帶式起重機以及塔式起重機的出貨量分別分別增長100%、80%及200%,對其全年經營表現感到樂觀。公司管理層預期預計全年上述三項業務銷售將分別增長30%、25%和60%,同時挖掘機及高空作業平台(AWP)預期增長逾100%,農業機械預計增長逾60%。
中聯重科預計首季度收入將增長60%至70%,較去年同期持平表現明顯改善,考慮到經營槓桿,期內淨利潤可能翻倍,瑞信將中聯重科目標價,由12.37元上調至15.31元,認為公司積極的銷售前景及近期集資利好發展,對其2020至2022年每股盈利預測各提高23.2%、15.7%及16.9%,維持「跑贏大市」評級。
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