《大行報告》瑞信下調中交(01800.HK)目標價至5.3元 評級「跑贏大市」
瑞信發表報告指,中交(01800.HK)第三季淨利潤按年跌9%至47億元人民幣,低於該行預測,第三季收入按年增1.4%,則較該行預測低了5%。
該行表示,公司毛利率按年微升0.7個百分點至13%,主要是利好項目組合轉向高利潤項目;首九個月現金流出為430億元人民幣,按年收窄至160億元人民幣。該行表示,繼次季呈按年增34%的強勁表現後,第三季新訂單按年跌28%至2,300億元人民幣,該行預料,由第三季起,公司新訂單增長將會加快。
該行表示,將公司2022年至24年每股盈測下調0%至4%,反映收入預測下調,並將其目標價由5.8元下調至5.3元,維持其評級為「跑贏大市」。(ca/k)
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