《大行報告》花旗料中國建築國際(03311.HK)今年訂單有望超預期 評級「買入」看14元
花旗發表報告指,在昨日(6日)基建及建材板塊回吐後,與包括中國建築國際(03311.HK)和海螺(00914.HK)等公司管理層舉行電話會議。該行維持對中國建築正面看法,指其為投資ESG建築的最佳替代品;今年訂單有望超過原先1,600億港元的目標;淨槓桿率按年改善,以及至年底有望錄經營現金流正數。早前上海封城並無影響上半年業績,因建築活動幾近沒有停工。該行重申予中國建築「買入」評級,目標價14元,認為在上海結束封城後,市場出現板塊輪轉,資金會由價值股流入增長股。
報告稱,即使昨日股價下滑7%,中國建築今年指引維持不變,即訂單增15%至最少1,600億港元;雙位數純利增長;以及約30%派息比率。管理層未有留意到任何引發昨日股價下行的負面消息。該行則估計是由於板塊輪轉。
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