《大行報告》摩通下調洛陽鉬業(03993.HK)目標價至5.4元 評級「增持」
摩通下調洛陽鉬業(03993.HK)目標價由6元至5.4元,評級「增持」。
摩通指,今年來洛陽鉬業股價下跌5.6%,與其他電動車上游公司類似,雖然商品價格創新高,但該股目前估值仍處於歷史低位。
摩通認為市場可能對鈷的長期需求和定價前景過度看淡。隨著鎳價接近歷史高位,電池技術過渡到高鎳正極材料(NCM)的速度可能比最初預期慢。該行維持洛陽鉬業2022財年盈利預測大致不變,同時將2023財年的預測提高6%,以反映公司的產量增長。
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