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《大行報告》大摩上調太古(00019.HK)目標價至75元 評級「增持」
阿思達克 08-15 11:22
大摩發表報告,將太古(00019.HK)目標價由74元微升至75元,評級「增持」,預計40億元回購計劃可能為股價提供支持。 報告指,太古上半年經常性基本盈利12.49億元,按年升59%,主要由於國泰航空虧損減少。大摩預計,隨著運率上升,國泰下半年虧損將進一步收窄。另飲料業務盈利下跌22%至11.5億元,主要受大中華區疫情影響所致,大摩預計下半年應恢復正常。 大摩指,太古中期股息提高15%至1.15元。假設末期股息有類似的增長幅度,全年派息3元將意味著6%股息率,是其行業覆蓋範圍內最高之一的公司。加上太古於去年宣布,會繼續以持續增長派息為目標,未來擬持續把一半的經常性基本利潤用作派息(不包括業績較波動的國泰),令其股息率比同行更具具可持續性。如果太古2023年完成40億元回購,意味著在股息之外還有5.8%的年度回報。
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