《大行報告》摩通維持公用股正面看法 首選長建(01038.HK)及電能(00006.HK)
摩根大通發表報告指,隨著美國通脹下降及加息預期減弱,認為香港公用股具有良好的投資價值,因該行估計有關股份提供達7%的股息收益率,平均較美國十年期國債息率高出300個基點以上,亦較歷史上的超過200個基點為多。
長江基建(01038.HK)、電能實業(00006.HK)、中電控股(00002.HK)及粵海投資(00270.HK)的財務總監參加了該行舉行的公用股論壇,而他們指引踏入明年的經營前景會有改善,可支持穩定的派息及盈利反彈。
具體而言,摩通認為長建和電能的英國/澳洲受監管資產,於明年應可隨著通脹掛鉤調整而永久升值,而電能的股份回購亦料可為估值提供支持。至於中電預計澳洲的電價上升將可傳導至明年下半年的盈利,粵投則指引股息將增加2%至3%,該行估計其股息收益率約為9%。
摩通維持對香港公用股的正面看法,行業首選長建及電能,兩企評級均為「增持」,目標價同為50元;次選為粵投,評級「增持」,目標價8元;最後為中電,評級「中性」,目標價52元。
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