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《大行报告》高盛上调中信股份(00267.HK)目标价至7.3元 评级「中性」
阿思达克 03-31 14:30
高盛发表研究报告,指中信股份(00267.HK)去年纯利566亿元,撇除出售麦当劳内地及香港业务权益收益,核心纯利按年升1%至542亿元,符该行预期。报告称,如今年1月企业日摘要所述,集团近月在特定板块经营见复苏,支持其去年下半年纯利按年转升45%,扭转上半年按年跌19%势头。

报告表示,中信股份大部分纯利来自金融服务,非金融板块业绩好坏参半,特钢、铁矿砂及重工业务强劲,惟旗下铝合金车轮制造商中信戴卡去年纯利跌26%,另工程及建筑业务纯利亦倒退10%。

高盛称,中信股份末期息38.8仙,全年共派息48.8仙,全年计按年增5%,意味派息比率维持25%。该行上调中信股份2021至2023年各年每股盈测介乎17%至19%,以反映业绩及集团优化业务结构的努力,料今明两年纯利分别升13%及6%,至分别640亿及675亿元。予目标价由6.7元升至7.3元,相当於目标每股资产净值(NAV)折让维持50%,维持「中性」评级。高盛补充,在内地及香港综合企业中,偏好长和(00001.HK)及复星国际(00656.HK)。

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