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《大行報告》瑞銀上調洛陽鉬業(03993.HK)目標價至5.8元 評級「買入」
瑞銀發表報告指,洛陽鉬業(03993.HK)宣布與TFM及剛果(金)國家礦業總公司就剛果(金)TFM銅鈷礦權益金問題簽署和解協議。其中主要包括Y六年內分期支付和解金總額8億美元、自2023年起的項目現有服務期內,TFM向剛果(金)國家礦業總公司累計分配至少12億美元的股東分紅、及剛果(金)國家礦業總公司將擁有20%分銷權。 該行表示,投資者最為關心的是和解金條款,其所公布的8億美元低於該行及市場普遍預期,但分期付款期限較預期長。該行相信,協議的第二部分和第三部分不會對洛陽鉬業的財務產生太大影響。 該行認為,和解協議的條款較預期理想,料投資者將有正面反應,將集團2023及24年的每股盈測分別上調9%和7%,目標價由5.6元上調至5.8元,維持「買入」評級。
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