《大行报告》花旗微升华润水泥(01313.HK)目标价至11.8元 评级「买入」
花旗发表报告指,华润水泥(01313.HK)管理层在投资者会议上,对华南地区的水泥市场前景给出了积极的信息。该行相信华南地区的水泥价格将从第二季开始按年上升,维持对华润水泥「买入」评级,目标价由11.7元微升至11.8元。
花旗指,华润水泥今年的销售目标是按年略有增加,因为年初至今的销售量好於预期。而广东和广西水泥自3月中开始加价,累计加幅每吨50至60元,较去年有所提高。广东的价格每吨按年上升30元,达到去年的最高位,而广西的价格就按年持平,只是比去年最高价低每吨30至40元。该行预计上半年的水泥价格趋势将保持稳定,下半年将稳步上升。
展望今年需求,花旗指,广东和广西政府今年的投资额高於去年,重点启动项目预计将比去年增加15%,其中广西将超过30%以上。至於首季的重点项目招标时间表,广东或广西有35个项目,而去年同期为25个。
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