《大行報告》花旗上調福耀玻璃(03606.HK)目標價至71元 評級「買入」
花旗發表研究報告,指福耀玻璃(03606.HK)上半年業績強勁,收入按年升42%至115億元人民幣,較去年下半年則跌2%,相當於該行對其今年預測的41%;純利按年升84%至17.69億元人民幣,較去年下半年亦升8%,相當於該行對其今年預測的42%,大致符該行及市場預期。即意味集團次季收入按年升48%至58.37億元人民幣,純利按年升81%至9.14億元人民幣。
報告稱,公司整體趨勢正面,在低基數下汽車及浮法玻璃付運及銷售均價按年穩固上升;在產品組合改善下整體毛利率顯著擴張;次季福耀美國附屬純利按季穩固改善至1,800萬美元,去年同期該附屬錄2,150萬美元虧損。
該行上調福耀玻璃2021至2023年盈測分別4%、4%及2%,上調估值基礎,至2021至2023年H股預測市盈增長率1.4倍,較三年歷史均值高出兩個標準差,H股目標價相應由54元升至71元,維持「買入」評級。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.