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《大行报告》麦格理升马钢(00323.HK)评级至「跑赢大市」 目标价上调至5.6元
阿思达克 05-12 16:00
麦格理发表研究报告,指受惠供给侧改革2.0,马钢(00323.HK)首季税後纯利按年升300%至15亿元人民币,胜预期,并返回2018年水平;该行料其良好毛利将会维持。该行上调其投资评级由「中性」升至「跑赢大市」,上调估值基础,由预测今年市帐率0.5倍上调至1.2倍,目标价相应由2.5元升至5.6元。该行认为,其分散产品组合及效益改革成果开始展现。

考虑限产及新产能置换政策等,该行上调2021至2025财年内地钢价预测8%至16%,相应上调马钢2021至2022年每股盈测80%至98%。该行称,内地供给侧改革2.0为钢铁业带来估值重评,估值料追近亚洲同业的预测市帐率1.3倍水平。

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