《大行报告》瑞银:万洲(00288.HK)回购计划暗示管理层对前景感乐观
瑞银发表报告表示,对於万洲国际(00288.HK)公布拟以每股7.8元回购13%股份,合共涉资149.52亿元,该行假设回购代价中自有资金占30%,而贷款则占70%而言,料将产生约6,000万美元净利息支出,但将提升集团2021至2022年度每股盈利约10%。
报告又指,万洲现价估值是自2017年以来最低,主因疫情打击其去年业绩,但该行料其业绩将自今年第二季逐步出现复苏,公司亦目标今年业绩有望回复至2019年度的水平。该行相信,长线而言万洲於市占率及毛利率有很大上升空间,短线料市场会对其重新评级,重申「买入」评级,目标价11元。
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