《大行報告》花旗下調中升(00881.HK)目標價至38.1元 評級「買入」
花旗發表報告指,中升控股(00881.HK)上半年純利按年跌13%至30億元人民幣,符合預期,毛利則按年跌18%至69.7億元人民幣,但被佣金及其他收入按年升42%所抵銷,經營溢利按年僅跌9%至47.7億元人民幣。上半年自由現金流達18億元人民幣,與對上財年同期的20億元人民幣相若。報告指,中升上半年營運利潤率及現金流具防守性。
該行將中升今年至2025年各年純利預測分別下調5%至10%,至分別63億、71億及80億元人民幣,並料各年營運利潤率達5.8%、6.3%及6.8%,並將其目標價由43.3元下調至38.1元,維持「買入」評級。
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