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《大行報告》瑞信降新奧能源(02688.HK)評級至「跑輸大市」 目標價130元
瑞信發表報告指,新奧能源(02688.HK)上半年核心利潤36.9億元人民幣,按年增長18%,基本符合市場預期,但增速低於華潤燃氣(01193.HK)香港中華煤氣(00003.HK)等同行20%至25%。 上半年天然氣零售量按年增長22%,同行為28%至30%,全年指引由按年增長不少於15%上調至20%。期內新連接數按年增長15%,達到120萬個。瑞信根據管理層的最新指導意見對2021年至2023財年的每股盈利進行微調,目標價130元不變。然而,其目前的估值相當於2021財年市盈率21倍,相比起同行華潤燃氣17倍和中國燃氣(00384.HK)11倍更高,評級由「中性」下調至「跑輸大市」。
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