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《大行報告》瑞信降東岳集團(00189.HK)評級至「中性」 目標價下調至8元
阿思達克 03-30 10:57
瑞信報告指出,東岳集團(00189.HK)去年純利39億元人民幣,按年升86%,撇除一次性出售收益影響,核心盈利26億元人民幣,按年升27%,符合該行及市場預期。 該行指,作為鋰電、太陽能材料之一的聚偏二氟乙烯(PVDF)下半年平均價格為每噸22.8萬元人民幣,較上半年跌25%。進入2023年,PVDF價格跌勢加快,年初至今已跌33%,惟毛利率仍具韌性,因PVDF原材料(即R142b冷卻劑)價格年初至今亦跌50%。 該行下調集團2023-34年每股盈測9%至14%,因隨著PVDF價格下跌,料今年盈利惡化,評級由「跑贏大市」降至「中性」 目標價由10元下調至8元。
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