《大行報告》瑞信上調信義光能(00968.HK)目標價至20元 評級「跑贏大市」
瑞信發表報告指,信義光能(00968.HK)今年上半年純利31億元,按年增長118%,接近早前盈喜預期的上限(指引增長100%至120%)。集團上半年盈利表現強勁,主要支持爲主要產品均價於今年4月及5月調整前(現貨年初至今下跌48%)的玻璃價格高企,特別是第一季。
該行表示,集團目標爲明年的產能進一步拓展,以及市場佔有率有提升。而該行預計集團於今年至2023年的銷量年均複合增長率達45%。
瑞信上調信義光能股份目標價,由19元升至20元,評級維持「跑贏大市」,並調低集團今明兩年每股盈利預測5%至6%,2023年則升3%,以反映更高的銷量預測。
該行提到,雖然近期太陽能股股價上升,但信義光能與A股同業比較有落後,認爲集團目前估值吸引,相當於明年預測市盈率21倍,相信是時候作出收集。
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