《大行報告》匯豐研究上調太平洋航運(02343.HK)目標價至2.3元 評級「買入」
匯豐研究發表報告,指波羅的海乾散貨綜合運費指數(BDI)在去年下半年反彈逾倍,有別於上半年的疲弱表現,有助太平洋航運(02343.HK)在去年下半年實現800萬美元的邊際經常性利潤。然而,其盈利表現大大低過該行及市場預期,主要是因為船員變動而導致營運成本增加。
該行指,公司管理層對今年及之後的前景作強勁的展望。旗下小靈便型散貨船於2021年第一季的收租日數中,已有94%按日均租金10,150美元訂約,2021全年有46%按日均租金9,830美元獲訂約。在超靈便型乾散貨船中,2021年首季有100%按日均租金10,150美元訂約,全年則有63%按日均租金11,050美元獲訂約。
該行重申太平洋航運「買入」投資評級,目標價由原來的1.7元上調至2.3元。隨著需求復甦的情況只是剛開始,與過去十年相比,現在的供求關係已有所改善,而具利潤達到十年來的最高水平,相信此股的重估應會繼續下去。
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