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《大行報告》花旗下調潤燃(01193.HK)目標價至34元 評級「買入」
花旗發表報告,將潤燃(01193.HK)今明兩年淨利潤預測分別下調15.5%和9%,以反映新家庭連接減少。目標價相應由37元降至34元,基於其現價相當於今年市盈率11.8倍,股息收益率4.2%,加上今年自由現金流恢復,估值並不高,給予評級「買入」。該行指,潤燃去年淨利潤為47.33億元,按年下降26%,比市場預期低24%。不過,花旗認為最壞的情況似乎已經過去,基於今年受惠天然氣零售銷售增長加快;每單位毛利回升;以及綜合服務快速增長,公司預計今年淨利潤將按年增長雙位數。
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