《大行報告》高盛上調海螺水泥(00914.HK)目標價至46元 評級「中性」
高盛發表報告稱,由於水泥單位利潤上升,撇除一次性項目影響,海螺水泥(00914.HK)上半年經常性純利達151億元人民幣,勝該行預期20%,但低於市場預測10%,上調2012年2023年預測盈利介乎12%至28%,以反映自8月起供應更具紀律性後,單位利潤展望改善。
該行認爲,雖然海螺夏季的水泥毛利跌至低於預期,但行業更多地區自主限產,令毛利從谷底回升。不過,煤價持續上升,預期毛利不大可能回覆至2020年第四季的水平,維持H股「中性」評級,將目標價由42元調高至46元。
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