《大行報告》匯豐研究上調部份資源股目標價 看好鋰業股
匯豐研究發表研究報告指出,疫情後消費復甦,是推動內地資源股今年迄今股價的關鍵因素。受惠於需求正面及供應持續,銅和鋁公司的股價表現跑贏,但鋰公司股價大幅回落,主要受累於鋰價急跌及市場對電動車需求的憂慮。該行認為目前鋰價已接近低位,在納入最新對金屬價格預測後,該行認為鋰業股相比起銅及鋁業股更為吸引。
鋰業股方面,該行預期行業基本面在短期內會有所改善,看好天齊鋰業(09696.HK)及贛鋒鋰業(01772.HK),目標價各為92元及73元(見另表),而天齊鋰業更具上行空間,評級均為「買入」。
至於銅業股方面,該行認為銅價徘徊在每噸約9,000美元,金屬價格上行風險有限。鋁業股方面,相對於中國鋁業(02600.HK),該行較為看好中國宏橋(01378.HK),因其供應正常化。此外,雖然年初至今雲南減產,但鋁平均價格按年大幅下降,因此該行預計今年首季盈利將大幅下滑。該行對中鋁目標價由4.1元上調至4.6元,評級「持有」;對宏橋目標價續為9.7元,評級「買入」。
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