《大行報告》大摩調整中資原料股目標價 信義玻璃及五礦資源評級降至「與大市同步」
大摩發表報告指,由於地方政府試圖在年底前實現能源消耗和能源強度控制目標,下半年多種商品和材料的供應將受影響,預測下半年的鋼鐵產量按年下降11%,第四季度按季下降3%,按年下降9%。至於第四季度的鋁產量將按季下降4%,按年下降6%。另外有約35%的水泥總產量受影響,料第四季水泥產量將按季下降2%,按年下降11%。
在該行的中國原料股覆蓋範圍內,優先選擇鋁和鋰,當中更傾向於贛鋒鋰業(01772.HK),因其擁有更多的綜合資源、轉換能力以及電池領域的高增長。其後是鋼鐵和水泥,該行看好鞍鋼(00347.HK)、潤泥(01313.HK)、中國建材(03323.HK)和海螺水泥(00914.HK)等。浮法玻璃在需求疲軟的情況下,該行表示不太偏好。
高盛下調部分中資原料股評級。被下調評級的包括信義玻璃(00868.HK)及五礦資源(01208.HK),均由「增持」下調至「與大市同步」,目標價分別由37元和4.5元,下調至26.6元和3.9元。
高盛又下調多隻中資原料股的目標價。海螺水泥(00914.HK)和江西銅業(00358.HK)目標價分別下調至57元和18.7元。山東黃金(01787.HK)目標價亦由16.71元下調至15.94元。
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