《大行報告》高盛升江銅(00358.HK)目標價至19.6元 去年經常性純利勝預期
高盛發表報告表示,江西銅業股份(00358.HK)去年純利按年跌9%至22.28億元人民幣,撇除一次性項目及商品衍生工具公允值虧損,經常性純利按年升35%至39.84億元人民幣,遠勝市場及該行預期,主因銅業務收入高於預期。
該行稱,江西銅宣派每股末期息10分人民幣,意味派息比率按年擴2個百分點至16%。該行料江銅續受惠於銅價上升,並認為H股現估值吸引,相當於今明兩年預測市盈率11倍,低於歷史均值17倍。
高盛下調江西銅今明兩年盈測介乎4%至6%,以反映對其業績及金價預測下調,並維持予其H股「買入」評級,目標價由18.5元升至19.6元。
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