《大行報告》匯豐研究下調潤泥(01313.HK)目標價至3元 評級「減持」
匯豐研究發表研究報告指,華潤水泥(01313.HK)於第三季勉強達到盈虧平衡,除稅後純利(NPAT)僅錄3,300萬元,受累低於預期的平均售價和每噸毛利僅16元屆歷史低點。該行指,由於煤炭價格上漲,成本持續上漲,加上房地產需求仍然不確定,料第四季的情況不會有太大改善。該行維持看淡集團,續予「減持」評級,目標價由4.1元下調至3元,又表示在建材行業中,最不看好集團。
該行表示,由於集團的產量高於行業平均水平,預計其正在需求疲弱的環境下獲得市場份額,惟使集團供需保持疲弱平衡的是非高峯期停產的日子比以往多。該行預計,集團全年銷量將按年下降9%。
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