《大行報告》花旗下調潤泥(01313.HK)目標價至8元 評級「買入」
花旗發表研報指,華潤水泥(01313.HK)上半年純利按年下跌50%至18億港元,略低於該行預期,主要由於水泥和熟料的單位成本較去年同期提升19%,抵銷同期銷售均價輕微升幅。
該行認爲,由於華南地區需求7月份起漸見改善,認爲華潤水泥最差情況可能已經過去,8月以來在基礎設施需求回升的帶動下,華南地區的出貨量已恢復按年增長。花旗預期,相關改善既是季節性的,亦是結構性,同時亦預計政府推動確保房地產完工,亦將有助於支持下半年市場需求。
基於上半年業績,花旗將2022至2024年潤泥盈測下調19%、10%及7%,目標價由8.1港元輕微下調至8港元,維持「買入」評級。
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