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《大行報告》摩通升中遠海控(01919.HK)及東方海外(00316.HK)目標價 今年行業盈利料更上層樓
摩根大通發表研究報告指,雖然市場擔憂即期運費及利潤增長趨勢見頂,但預期全球集裝箱航運業今年發展將更加強勁,其中調研機構Drewry預測行業息稅前利潤(EBIT)將達到2,000億美元,高於2021年的1,900億美元。 摩通預期,受合約費率及比率較高所支持,今年行業被低估的情況將轉變,同時預期今年即期運費將有所調整,整體行業供需將變得更加有利。中遠海控(01919.HK)管理層透露年初至今合約費率續簽進展順利,長途航線的費率好過早前預期,淡季內船舶利用率仍保持高位,預期農曆新年假期後需求將反彈,同時全球港口擁堵問題未必在短期內得到解決。 同時摩通指出,馬士基巨型貨船日前擱淺,證明隨着全球供應鏈拉長,整個行業便容易發生事故;Omicron疫情惡化,導致人手短缺,亦加劇美國主要港口的擁堵狀況。 但該行認爲需求高企下,今年行業收益有望進一步攀升,各航企去年第四季業績亦異常強勁,重申對中遠海控、東方海外(00316.HK)及長榮海運的「增持」評級。中遠海控目標價由29元輕微上調至30元,而東方海外目標價則由387元升至401元。
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