《大行報告》摩通升中交(01800.HK)評級至「增持」 目標價上調至5.1元
摩根大通發表報告指,中國交通建設(01800.HK)於2019年至去年的經營趨勢較同業疲弱,主因其業務組合不利,BOT(建造、營運、移交)投資項目的貢獻較高,且在環境不明朗的海外有較多業務,令集團過去兩年表現跑輸。
不過,該行認為中國交通建設未來的風險回報改善,預期BOT投資將成業務亮點,低基數亦會使盈利有反彈表現。
摩通升中交評級,由「中性」升至「增持」,目標價由4.3元上調至5.1元,此按現金流折現率作估值,並調升集團2020年至2022年純利預測平均1%。
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