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《大行報告》美銀證券降中燃(00384.HK)及潤燃(01193.HK)目標價 料受累競爭加劇及房市收緊
美銀證券發表報告指,國家能源局於9月底發布促進能源行業改革的計劃,以推進下游天然氣用戶接駁至中游管道和液化天然氣(LNG)終端。而此將令行業的天然氣直接銷售增加、競爭加劇、天然氣銷售單位毛利下降及銷氣量減少。 該行表示,內地今年8月及9月的住宅建設新開工面積分別按年下跌15%及14%,較2019年水平低14%及17%,預期今年全年的新開工將按年降8%至10%,明年基礎情境下則料或按年降4%至8%,最差情境更可能降20%至30%。 受競爭加劇及房市收緊影響,美銀調整多間中資城市燃氣商接駁量、銷氣量及資本開支等預測,並將中國燃氣(00384.HK)股份目標價由20元降至17.8元,華潤燃氣(01193.HK)目標價由35.5元降至33.6元,新奧能源(02688.HK)目標價則維持83.6元,三企評級均為「跑輸大市」。(ek/k) ~
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