《大行報告》里昂下調信義光能(00968.HK)目標價至15.8元 評級「買入」
里昂發表報告指,信義光能(00968.HK)今年上半年核心利潤按年下跌38%,為早前公布的盈警的中位。雖然期內銷量增長仍然強勁,按年上升44.6%,但產品均價下跌及成本增加,拖累毛利率降至26.7%。
該行認為,信義光能目前的毛利率好於上半年的平均水平,7月的庫存較低表明銷售強勁,與行業庫存上升形成鮮明對比。
里昂下調信義光能目標價,由18.7元降至15.8元,相當於預測2023財年市盈率20.6倍,維持「買入」評級,並調低集團今年至2024年核心盈利預測分別13.6%、5.7%及1.3%,反映太陽能玻璃平均價格輕微下降,及原材料成本增加等因素。
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