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《大行報告》瑞銀下調中國建材(03323.HK)目標價至14.57元 評級「買入」
阿思達克 07-09 12:28
瑞銀髮表報告表示,中國建材(03323.HK)管理層透露自5月底以來,水泥需求增長放緩,主因季節性因素、雨季提前及鋼價高企減慢建築活動等所影響。不過管理層預計未來幾年水泥需求將趨於穩定,行業約2023年實現碳達峯,領先於中國2030年的國家碳達峯目標。

報告又指,由於水泥需求受到強烈的季節性影響,但管理層指一直在努力穩定盈利之波動性。爲了降低煤炭成本,公司目標是增加與其他主要水泥公司的合同銷售及集中採購的比例。

該行下調中國建材2021至2023年度盈利預測15%至21%,以反映較高煤價預期及少數股東權益的因素,目標價由16元降至14.57元,維持「買入」評級。

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