《大行報告》摩通上調中石化(00386.HK)目標價至4.9元 評級「增持」
摩根大通發表報告表示,中石化(00386.HK)公布首季業績後,決定上調目標價由4.6港元至4.9港元,此按綜合方式作估值,由於股息訊率高,維持「增持」評級。
摩通指,中石化管理層在電話會議上預計,今年國內石油需求將保持按年正增長,新冠疫情緩和和潛在的政府刺激經濟措施將支持石油和化工產品下半年的反彈;而第二季核心煉油/化工營業利潤率與第一季相較穩定;進口LNG盈利能力改善,因合同組合上升與現貨和天然氣平均銷售價格上漲;今年勘探與生產的全部成本可能 「按年下降」。
該行將中石化明年的每股盈利預期提高13%,以反映比預期更強的勘探與生產表現。該行料中石化於2022年至2024年每股派息各為0.51元、0.51元及0.47元人民幣。
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