《大行報告》高盛下調潤泥(01313.HK)目標價至2.2元 評級「沽售」
高盛發表報告指,華潤水泥(01313.HK)上半年純利6.2億元,按年跌66%,低於該行及行業預期,主要因為水泥及熟料銷量差過預期,目標價由3.1元下調至2.2元,維持「沽售」評級。
該行估計潤泥利潤率前景將會受壓、需求萎縮,因此將公司2023年至2025年各年盈利預測,下調介乎4%至67%。在主營市場廣東及廣西,市場需求疲弱、未來幾年熟料供應設施增加,潤泥面對的挑戰將較同業更大,今年下半年至2025年,高盛對潤泥單位毛利預測由原先的每噸68至72港元,下調至53至58港元,較今年上半年的58港元持平或下跌。
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