《大行報告》匯豐研究上調新特能源(01799.HK)目標價至25元 評級「買入」
匯豐研究發表報告指,新特能源(01799.HK)上半年純利12.28億元人民幣,按年增長706倍,比之前盈喜預期高出7%。強勁的盈利增長主要是由於銷量增長36%和多晶硅平均價格增長89%所驅動,該行對未來的增長前景保持樂觀。
匯豐研究將2021年至2023年的盈利預測提高約4%至7%,以考慮到更高的多晶硅價格假設。因此,將基於市賬率的目標價從24元提高到25元,相等於2022年目標市賬率1.2倍。而新特能源目前的交易價格僅相當於2022年市盈率預測4.8倍,是中國太陽能公司中最低之一。因此該行認為在當前強勁的多晶硅周期背景下,其風險回報率理想。
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