《大行報告》大和升潤燃(01193.HK)評級至「持有」 目標價下調至27元
大和發表報告指,基於估值將華潤燃氣(01193.HK)投資評級從「跑輸大市」提升至「持有」,認為最壞的時期已過去,但強調對公司的基本面依然未感樂觀,指出今年首四個月公司的燃氣銷量按年增長約15%至19%,單位利潤每平方米少於0.5元人民幣,雖然經營情況有所改善,但接駁業務及聯營收入前景仍具不確定性。
大和降其今明兩年每股盈測介乎11%至15%,反映接駁業務利潤率展望下調,並指出華潤燃氣的股價已低於早前的目標價水平,因此將最新目標價由27.2元微降至27元,又形容今年上半年(特別是首季)行業仍然極具挑戰性,預測公司今年純利增長僅17%,低於市場普遍預期的逾20%。
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