《大行報告》瑞信下調煤氣(00003.HK)目標價至9.1元 評級「跑輸大市」
煤氣(00003.HK)去年純利跌16.5%至50.17億元,兼取消派紅股。瑞信發表報告指,煤氣業績主要受內地業務溢利跌幅較大拖累。該行將煤氣目標價由9.9元下調至9.1元,維持評級「跑輸大市」。
管理層預計今年全年內地城市燃氣總銷量按年增長12%,氣價利潤基本穩定在每立方米0.5元人民幣,暫停發放紅股主要是由於資本支出要求和疫情帶來的不確定性。瑞信將煤氣2022-2023每股盈利預測下調14%-15%,主要是由於內地業務盈利下降,在香港公用股中,較看好股息率較高的長江基建(01038.HK)和電能實業(00006.HK)。
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