《大行報告》美銀證券下調中燃(00384.HK)目標價至16元 評級「跑輸大市」
美銀證券發表報告指,中國燃氣(00384.HK)將2022財年核心每股盈利指引由按年升7%降至下跌29%。由於天然氣價格高企,2022財年的零售天然氣銷量增長指引由原來的按年升15%至20%,下調至升逾15%;銷氣單位毛利指引亦由每立方米超過0.6元人民幣,降至0.55至0.57元人民幣,主要由於難以將液化天然氣(LNG)購買成本轉嫁,及上遊價格上升。
美銀表示,雖然人民幣兌港元升值8.6%,但集團2022財年中期每股核心盈利按年下跌23%,佔該行全財年預測的47%,並較市場預期低26%。
美銀證券下調中燃氣股份目標價,由17.8元降至16元,評級維持「跑輸大市」,同時將集團2022財年零售銷氣量增長預測由15%降至13%,2022至2024財年每股盈利預測亦調低分別11%、5%及3%。
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