《大行報告》匯豐研究:通脹升溫投資公用股需具選擇性 看好長建(01038.HK)基本面及併購潛力
匯豐環球研究發表報告指,多個已發展地區的通脹自今年下半年開始走出谷底,並於近期達十年高位,相信主要受數個因素推動,包括能源價格及商品供需不平衡。
該行表示,在通脹升溫下,英國和澳洲等部分英聯邦國家的受監管公用事業往往會受惠,而與同業比較長江基建(01038.HK)及電能實業(00006.HK)有最多相關業務,60%至75%的盈利來自此等國家。
匯豐研究認爲在通脹升溫環境下,投資公用股需具選擇性,繼續看好收益和股息能夠長期增長的公司。而長江基建爲該行的公用股首選,股份評級爲「買入」,目標價55元,主因其現有業務產生大量自由現金流,有利股息增長,明年及2023年的併購潛力亦有望成爲催化劑。(ek/u)
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