《大行報告》花旗降中聯重科(01157.HK)目標價至6.2元 評級「買入」
花旗發表報告指,中聯重科(01157.HK)今年第三季業績疲弱,加上明年展望暗淡,因此下調集團今明兩年盈利預測分別8%及22%,亦下調估值基礎,由原先預測市賬率1.3倍下降至0.7倍,目標價相應由11.2元降至6.2元,評級維持「買入」;指現估值相當於明年預測市賬率0.6倍,接近歷史低位。
該行表示,除了需求見頂,集團第三季業績表現疲弱相信主因去年同期基數高,加上內地柴油機升級令需求提前,導致集團季度盈利的按年跌幅惡化。不過,花旗預料集團的盈利下降幅度,將由第三季的按年跌46%,收窄至第四季的跌18%;但未見需求上升跡象。
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