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大和:維持玖龍紙業(2689.HK)目標13港元 評級“買入”
格隆匯 11-18 15:20

大和發表研究報吿指,玖龍紙業(2689.HK)的平均售價上漲,抵消了投入成本上升帶來的利潤率壓力,其10月銷量創歷史新高,料其需求前景穩健。該行維持其目標價13港元及“買入”評級。

大和在報吿中指到,玖紙的利潤率趨勢或在今年第四季度出現轉折,因為煤炭價格已經合理化,而下一次提價仍定於12月1日。該行指,因應瓦楞紙箱(OCC)和能源成本上漲,料集團或在今年第三季度面臨利潤率壓力。該行認為,隨着環保措施的嚴格和“煤改氣”的要求,供應格局或對集團有利。

大和下調玖紙2022-24財年的核心每股盈測1-5%,以反映近期較高的投入成本帶來的利潤率壓力。

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