《大行報告》匯豐研究降龍工(03339.HK)評級至「持有」 目標價下調至2.8元
匯豐研究發表報告,將中國龍工(03339.HK)2021年至2023財年的盈利預測分別下調5%、7%和7%,主要是考慮到今年上半年毛利率下降。目標價由3.8元下調至2.8元,因將目標市賬率由1.2倍降至0.9倍,以及將2022年的每股帳面價值由2.67元預測降至2.63元,以反映新盈利預測。該行認為雖然龍工的2021財年約12%的高預測股息率對股價有支持,但短期內利潤率壓力過大,而且其主要產品輪式裝載機可能在2022年至2023財年進入下降周期,評級由「買入」下調至「持有」。
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