《大行報告》瑞信下調中燃(00384.HK)目標價至26元 評級「跑贏大市」
瑞信發表報告指,中國燃氣(00384.HK)2022財年中期業績遜預期,核心盈利按年下跌19%至42億元,較市場料低單位數增長的低預期更差。
該行表示,盈利倒退主要由於農村接駁減少、更着重安全及房地產市場放緩,令新接駁用戶大跌39%。而管理層現時指引2022財年核心盈利約爲80億元,按年下跌約20%,但管理層有信心未來數年的盈利年均複合增長率可超過15%。
瑞信下調集團2022至2024財年每股盈利預測20%至28%,目標價由33元降至26元,評級則維持「跑贏大市」。
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