《大行報告》麥格理下調海螺水泥(00914.HK)目標價至28元 評級「跑輸大市」
海螺水泥(00914.HK)原董事長王誠卸任不足一個月後涉嫌嚴重違紀違法被查。麥格理發表報告,指事件將對海螺水泥企業管治產生負面影響,增添ESG憂慮;及市場預期的產業聯盟將增加很大的不確定性,該行提到,王誠僅於離任1個月後便遭到調查,事件令人意外,相信會增加市場預期的產業聯盟風險。該行對海螺水泥oi7be4盈測不變,目標價由30元下調至28元 ,評級「跑輸大市」。
麥格理認為,在面對脆弱的供需動態和下半年黯淡的需求復甦,水泥行業目前承受著巨大的壓力,截至目前,基建融資改善進展甚微,5月份新增貸款的38%仍來自票據融資。
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