《大行報告》大摩下調中鐵(00390.HK)目標價至6元 評級「增持」
摩根士丹利發表報告,將中國中鐵(00390.HK)今明年度盈測分別降低了5%和8%,目標價由6.5元下調至6元。
不過,大摩指,由於中鐵來自城市鐵路和市政項目等高毛利率業務的收入增加,加上隨著投資標準提高,鐵路項目的毛利率將會改善。同時基礎設施項目的資金增加,而收入增長溫和,相信運營現金流亦都會有改善,因此給予中鐵「增持」評級。
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