《大行報告》瑞銀下調寧滬高速(00177.HK)目標價至9.39元 評級「買入」
瑞銀髮表報告表示,指江蘇寧滬高速公路(00177.HK)強勁的現金流產生能力及慷慨的派息政策,對其積極看法未變,認爲江蘇寧滬高速最近的股價下跌,已經反映今年第三季度的潛在疲軟業績和非公路投資的風險。
該行料江蘇寧滬高速公路2021年的每股股息爲0.47元人民幣充滿信心,即使今年第四季度疫情局部復甦可能令盈利下降,但疫後的交通恢復可能是一個短期催化劑。
瑞銀指,寧滬高速目前的估值仍然具吸引力,如果該公司選擇將資產分拆爲房地產投資信託基金,可能會有上升空間。目標價由11.86港元下調至9.39港元,以反映盈利輕微修正和較高的加權平均資本成本,評級「買入」。
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