《大行報告》高盛一舉降海天國際評級至「沽售」 內地工業科技板塊看好中車時代及中國通號
高盛發表研究報告,指內地工業科技板塊經歷首季格外快速的增長後,料次季至末季增速將逐漸至正常化水平。在終端市場方面,料廣泛疫後復甦穩定,並料新興工業(如電動車、電池、太陽能及半導體)正成為結構性推動力;另電子敞口在今年下半年放緩後,料明年潛在增強。整體而言,在該行所覆蓋內地工業科技中,核心股份有望擴大市佔,並收窄與外國龍頭企業的差距。由於多項應對措施,料原材料通脹對毛利率的壓力有限。
該行維持對中車時代電氣(03898.HK)及中國通號(03969.HK)的「買入」投資評級,惟下調海天國際(01882.HK)評級由「買入」一舉降至「沽售」,目標價由33元降至23.8元,考慮自去年11月初加入至「買入」名單以來,海天國際累升40%跑贏大市,同期H股覆蓋股平均升29%,MSCI中國指數則升4%;以及其在新興工業敞口較小,較其他予「買入」股份比較,其潛在市佔擴大空間亦較小。詳細評級及目標價見另表。
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