《大行報告》瑞信上調協鑫科技(03800.HK)目標價至5元 評級「跑贏大市」
瑞信發表報告指,協鑫科技(03800.HK)發盈喜,料上半年賺69億人民幣,按年增187.5%,高於該行預期的66億元人民幣。強勁的盈利增長主要由於多晶矽平均價格上漲和銷量增長所帶動。
該行認爲,協鑫最有能力從多晶矽的超級週期中受惠,因其產能增長高於其他同行,並料粒狀矽的全球市場份額可能從2021年的4%增長到2022年的11%,2023年升至18%。
該行將協鑫科技2022至2023財年的每股盈利預測提高38至62%,以反映多晶矽價格假設提高,2022和2023財年每公斤價格預測分別由200和110元人民幣,提高到每公斤250和140元。該股目標價相應由4.5元升至5港元,維持評級「跑贏大市」,是該行近期在太陽能領域的首選。
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