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《大行報告》摩通上調招商局港口(00144.HK)目標價至13元 評級「增持」
阿思達克 03-16 09:49
摩根大通發表研究報告,考慮到今年港口行業充滿挑戰,而招商局港口(00144.HK)的股價年初至今跑贏同期指數表現約3%,預期近期投資者興趣回升,主要是由於港口吞吐量恢復,憧憬第二季趨勢持續,以及看到招商局港口在市場及經濟放緩當中,仍有能力適度提高港口費率。 該行認爲,隨着國有企業改革成爲受歡迎的投資主題,招商局港口的高現金餘額可爲投資者提供具有吸引力的股息回報(派息率40-50%,股息回報約9%)及進一步併購機遇,預測去年下半年稅後淨利按年下跌3%至40億元。 考慮到最新經營數據,摩通上調招商局港口目標價至13元,對應今年預測市盈率約6倍,並維持「增持」評級。
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