《大行報告》瑞銀下調海螺水泥(00914.HK)目標價至45.93元 評級「買入」
瑞銀髮表報告指,該行將今年煤價預測上調了11%,並預期海螺水泥(00914.HK)難以完全將成本壓力轉移,主要由於季節性因素令需求在5月底開始放緩,加上內地債券發行較預期弱,及物業項目新開工有所放慢。
瑞銀下調海螺水泥股份目標價,由58.41元降至45.93元,評級維持「買入」,並調低集團今年至2023年盈利預測8%,以反映煤炭平均價格上升的假設。
該行又提到,海螺水泥H股現價相當於一年預測市賬率0.88倍,較歷史平均低約1.65個標準差,且其今明兩年股本回報率料分別有18%及16%,估值有吸引力。
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