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《大行報告》大和下調東方海外(00316.HK)目標價至150元 評級「買入」
阿思達克 08-22 09:51
大和發表報告指,參加了東方海外(00316.HK)分析員會議,指管理層對下半年的前景持中性看法。管理層預計下半年運費穩定,對現金流有信心。隨著美國航線的即期運價自7月下旬開始回升,公司收到的客戶詢價增加。 不過,管理層亦強調不同國家宏觀經濟數據不一致性,大和認為反映管理層對市場需求復甦持相對審慎的態度。短期1至2個月內,管理層預計市場運價不會出現重大變化,但將取決於農曆新年前的實際需求。 報告指,東方海外上半年盈利能力高過預期,因此將全年每股盈利預測上調10%,但由於毛利率可能放緩,明年和後年每股盈利預測下調1%至16%。全年派息比率(包括特別股息)預測上調至50%,之前預測為40%,預計末期息為每股6.4元,但維持2024和2025財年40%派息比率預測。重申「買入」評級,目標價由180元下調至150元。
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