《大行報告》瑞信下調海螺水泥(00914.HK)目標價至31元 評級「跑贏大市」
瑞信發表報告指,海螺水泥(00914.HK)第三季純利按年下跌65%,首三季則按年跌44.5%,相信下跌主要由於銷量下降、生產成本上升及產品銷售均價回落所致。
該行預測,海螺水泥產品均價料跌12%至每噸290元人民幣,而每噸銷貨成本則持平於230元人民幣,即每噸毛利將按年跌約55%至60元人民幣。瑞信估計公司的自產銷量將達到約7,800萬噸,按年減少3%。
瑞信將2022至2024年盈利預測下調27%、17%及13%,以反映利潤率預測下調,目標價由43元降至31元,維持「跑贏大市」評級,相信基建投資加快將可支持第四季價格走勢。(gc/w)
~
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.