You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》匯豐研究上調資源股目標價 江銅及宏橋評級升至「買入」
匯豐研究發表報告指,受惠原材料(水泥除外)價格強勁反彈驅動,該行所覆蓋中資資源股股價在過去三個月累計升幅介乎17%至50%,因內房板塊轉勢及內地放寬防疫政策下中國需求預期改善。不過,經調整後,該行所覆蓋20隻股票現水平計平均上行空間只有8%,如果要由現水平有重大升幅,則需要市場上調盈測。該行維持對大部分資源股「持有」評級,但對個別股份更趨樂觀,上調多家資源股H股目標價,詳見另表。 報告稱,中資資源股需求基本面未見改善跡象。短期而言,中國正面對最嚴重新冠疫情爆發,在春節假期間經濟活動通常下滑。該行認為,或要等到2月,甚至3月,才見到需求改善的證據,而領先經濟指標(如物業銷售、基建投資及零售銷售)傳導至原材料需求改善通常存在滯後,特別是水泥、鋼鐵及玻璃。 該行認為,中資資源股板塊今年有五大驅動因素,即房市復甦及任何進一步的相關政策行動;持續進行的基建刺激;能源危機紓緩;疫情後需求復甦(消費);以及供應中斷的風險。 鋁及銅板塊H股而言,匯豐研究上調中國宏橋(01378.HK)、江銅(00358.HK)評級至「買入」。該行予「買入」評級水泥股H股則包括海螺水泥(00914.HK)、中建材(03323.HK)、亞洲水泥(中國)(00743.HK)。不過,該行認為紙品股及玻璃股已反映需求展望改善及潛在成本減省,估值已見合理。
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.
uSMART
Wealth Growth Made Easy
Open Account