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《大行報告》瑞信上調潤燃(01193.HK)目標價至41元 評級「中性」
阿思達克 03-29 11:17
瑞信發表研究報告指,華潤燃氣(01193.HK)去年度淨利潤按年增長2%至51.5億元,主要受去年下半年燃氣量增長13%,以及天津及寧波項目所帶動。期內受上半年疫情影響,全年住宅用戶新安裝量下降7%。

報告提到,管理層於電話會議中透露今年燃氣量可維持雙位數增長,新安裝量期望亦恢復至疫情前水平,按年回升5%,資本開支則由去年的90億元降至約85億元。並預期將派息比率由去年的40%進一步提升。

該行指,因應公司增長指引,將今明兩年每股盈利預測下調2%至4%,目標價由38元升至41元,認為現價水平對應今年預測市盈率16倍,估值合理,維持「中性」評級。

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