You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》高盛升中鋁(02600.HK)目標價至6.8元 評級「買入」
阿思達克 08-26 15:50
高盛發表研究報告指中鋁(02600.HK)受惠實現鋁價上升,中期業績勝該行及市場預期,上半年純利按年升逾85倍至30.75億元人民幣,撇除單次性項目,估算其經常性純利42.49億元,較去年上半年錄經常性虧損2.41億元人民幣大幅改善。 報告稱,公司鋁板塊跟隨行業勢頭按年改善。上半年實現鋁價每噸1.53萬元人民幣,與市場價格相若。該行估算中鋁的鋁板塊經常性EBIT約61.88億元人民幣,按年升539%,高於該行預期,因單位毛利上升及銷貨行政成本下降。該行估算中鋁上半年鋁單位毛利每噸3,879元人民幣,按年大幅上升,並與行業勢頭一致。 高盛表示,中鋁氧化鋁板塊大致符預期。資產負債表按年改善。經營現金流按年升58%至95億元人民幣屬穩固。淨負債率由去年底的166%降至今年6月底止的155%。 該行上調中鋁2021至2023年盈測14%至24%,以反映上半年實現鋁價上升;以現貨鋁價計,該行估算中鋁H股現估值相當於明年預測市盈率5.9倍,屬吸引。維持「買入」評級,目標價由6.4港元升至6.8港元。
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.
uSMART
Wealth Growth Made Easy
Open Account