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《大行報告》瑞信升江銅(00358.HK)評級至「中性」 目標價上調至18.6元
阿思達克 07-12 09:59
瑞信發表報告,指江銅(00358.HK)今年上半年初步業績超出市場預期,淨收入爲29.9億至32.1億元人民幣(下同),按年增長3.01倍至3.31倍,公司將盈利增長歸功於銅和硫酸價格的上漲。根據該行計算,銅和硫酸的平均價格分別按年增長了約50和58%。

瑞信指,儘管目前銅精礦供應保持復甦趨勢,但速度緩慢。祕魯對銅礦商的潛在徵稅也將給銅供應帶來下行風險。需求方面,該行預計今年下半年需求將保持彈性,特別是來自全球市場的需求能夠支持銅價,儘管銅價從十年來的低位逐步回升,但在每噸50美元的水平上仍然疲軟。

瑞信將對江西銅業2021年至2023年的盈利預測分別上調23.1%、17.5%、21.1%至分別爲48億、47億、46億元,以反映主要產品較高的平均價格。同時將H和A股份的新目標價,分別由18元上調爲18.6港元,及由26.5元上調至28元人民幣,評級由「跑輸大市」上調至「中性」。

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