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《大行報告》大摩下調中鐵建(01186.HK)目標價至9元 升中交(01800.HK)目標價至5.8元
摩根士丹利發表研究報告指出,內地因疫情「封城」對工程及建築公司首季盈利影響有限,而首季強勁的訂單反映出提振基建設施將爲今年受關注的主題,與該行觀點一致。中國政府敦促全力以赴推動基建,該行料基建資本開支仍將推動今年週期性增長,預期今明兩年的基建固定資產投資複合年增長率爲5.5%,相比起2018至2021年爲2%。 該行指出,在工程及建築公司當中,更爲偏好中鐵建(01186.HK)、中國中鐵(00390.HK)及中交(01800.HK),評級均爲「增持」,認爲三家公司的收入有70%至80%來自基建項目,股價於過去一個月分別升9%、25%及9%。該行對中鐵建的目標價由10.06元降至9元,對中國中鐵目標價由6元升至7.2元,對中交目標價由5.4元上調至5.8元。
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