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交銀國際:維持海豐國際(1308.HK)買入評級 目標價40港元
格隆匯 10-07 10:14

交銀國際報吿稱,受持續穩定的運價及高自有船舶比例帶來的成本優勢支持,海豐國際(1308.HK)預計今年第三季的毛利率與上半年的高水平基本一致。

報吿提到,越南的主要港口大部分運作正常,但營運效率較低。由於數百間工廠計劃重新開工,之前受抑制的貨運需求將推動集團第四季的貨量增長。該行預計,港口擠擁堵塞及集裝箱短缺的情況年內難以改變;與上半年比較,區域競爭可能會進一步紓緩。

報吿又指,該股股價較9月底的最高位下跌超過25%,基於前景完好且亞洲區內運價可能進一步上升,認為目前為很好的買入點。考慮到集團將在年底續簽東南亞的合同,目前的市場情況有利於推高合同價格,並保證集團明年的盈利,維持對其“買入”評級,基於2021年市盈率16倍,維持目標價40港元。

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