《大行報告》美銀證券上調兗礦能源(01171.HK)目標價至27元 季績遜評級「中性」
美銀證券發表報告指出,按中國企業會計準則,兗礦能源(01171.HK)首季業績遜預期,稅後純利按年跌15%至57億元人民幣,按季則升55%,達市場對其全年預測的20%;收入按年增長8%至444億元人民幣,按季則跌10%。
對於兗礦能源擬以264億元人民幣現金作價向母企收購年均產能達4,000萬噸的煤礦企業51%股權交易,該行認為有關交易不太具吸引力,因預期煤炭價格已開始下跌,應該結束其兩年的上升周期;巨額現金作價、高負債項目及開發新項目所需的資金,將為兗礦能源現金帶來負面影響;潛在股息驚喜較低。
美銀證券對兗礦能源今明兩年的預利預測各下調16%及17%,H股目標價由24元上調至27元,重申「中性」評級。
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