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大行評級 | 摩通:降煤氣(0003.HK)評級至減持 目標價下調至8.5港元
格隆匯 03-22 13:55
格隆匯3月22日丨摩根大通發表報告下調煤氣(0003.HK)投資評級,由“中性”降至“減持”,將目標價由10.5港元降至8.5港元,相當於預測今年市盈率21.3倍及股息回報4.2釐。 該行表示,調低煤氣今明兩年盈利預測各9%及5%,反映天然氣業務毛利疲弱,相關燃氣銷量及接駁增長較低。該行指,煤氣自2008年以來首次不派送紅股,對此感到意外。相信隨着新能源業務發展,煤氣的資本開支維持在較高水平,自由現金流或會較之前弱,限制了提升派息空間。
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