《大行報告》高盛升中煤(01898.HK)目標價至7.8元 評級「中性」
高盛發表研究報告指,中煤能源(01898.HK)上半年純利按年升近70%,撇除一次性影響,經常性淨利潤更按年增長87%至160億元人民幣,遠高於該行及市場預期,相信主要來自於期內煤炭利潤大幅上升及成本下降所帶動。
高盛將中煤今明兩年盈利預測上調27%至30%,以反映中國基準煤價水平提升,並將今年下半年及明年全年中國現貨動力煤價格預測從每噸650元人民幣上調至800元人民幣,預計內地煤炭市場上半年表現放緩,但下半年至明年料基本保持平衡。
由於中煤大部分銷售以合約價格出售,高盛認爲目前股價已計入合約價格重置帶來的大部分上漲空間,維持「中性」評級,目標價由5.1元上調至7.8元。
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