《大行報告》美銀證券下調潤泥(01313.HK)目標價至6.5元 評級「中性」
美銀證券發表研究報告指出,潤泥(01313.HK)首季稅後純利按年跌43%至7.3億元,每股盈利10仙,相當於該行對公司全年預測的12%,差過預期,主要由於需求疲弱及開支增加所致。另料需求疲弱的情況將延續至4月份。
該行認爲,即使內房融資及疫情封鎖措施有所放寬,惟內地華南地區即將進入雨季,需求釋放及毛利擴張仍將受到限制。供給方面,公司今年於廣西新增七條產線,但只有一條投產。雖然超過一半的剩餘產線面臨牌照許可問題,但在疲弱的市場下增加任何新的產能都可能帶來破壞性。
美銀證券下調潤泥2022至2024財年的每股盈利預測4%至8%,以反映首季的疫弱,目標價由7元降至6.5元,重申「中性」評級。
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