《大行報告》中金下調信義玻璃(00868.HK)目標價至26元 評級「跑贏行業」
中金發表報告指,信義玻璃(00868.HK)預計上半年純利按年跌35%至50%,到26.9億至35億元。其參股公司信義光能(00968.HK)亦預計上半年純利按年跌33%至43%,結合持股比例測算公司該部分投資收益為4億至4.8億元。
報告指,考慮上半年玻璃價格持續承壓,下調信義玻璃今明兩年每股盈測各17%和14%至2.37和2.51元,當前股價分別對應今明兩年7.9倍和7.4倍預測市盈率,維持「跑贏行業」評級,同時考慮下半年浮法存漲價預期,下調目標價 8.5%至26元,分別對應今明兩年11倍和10倍預測市盈率。
另外,中金提到,信義玻璃採購途徑多樣、擁有穩定的管道氣源,成本壓力或小於同行。
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