《大行報告》大和上調華晨(01114.HK)目標價至7.2元 評級「買入」
大和發表報告指,華晨(01114.HK)管理層似乎積極地將手上大部分現金,作為特別股息分配給股東,這將高於該行預期,故該行料今年每股派3.1元,並其特別派息率預測由70%上調至80%,加上華晨寶馬(BBA)對於2020至21年的未分配股息,目前亦討論當中,預料明年會公布,這將會連同特別股息一同派發。
該行預料,華晨與寶馬將會合作拓展業務,惟短期內不大機會有任何重大投資出現,故預計公司在短期內對現金流的需求最小,並注意到華晨寶馬可能會保持其盈利能力,而且其股息應該有穩定的現金流入,以支持未來投資。
該行上調公司2023年至24年每股盈測1%至4%,並將其目標價由3.9元上調至7.2元,重申其評級為「買入」。(ca/k)
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