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《大行報告》瑞銀下調新奧能源(02688.HK)目標價至128元 評級「買入」
阿思達克 08-25 10:04
瑞銀發表報告指,新奧能源(02688.HK)上半年業績疲弱,但似乎已反映於股價,中期而言該行維持正面看法,雖然上半年燃氣銷量放緩,但估計全年盈利按大致持平,營運數據例如燃氣單位利潤、接駁費用及利潤率都呈穩固,綜合能源業務將會支持該行對其2023至2025年間每股盈利複合年增長率達17%的預測, 報告認為,現時估值相當於預測明年市盈率9.1倍,及預測自由現金流收益率8%,為長線投資者提供具吸引力的買入機會,相信近兩個月股價累跌約22%,已大致反映燃氣銷量疲弱,而市場對於內地新建住宅減少的風險亦過份憂慮,因為公司上半年住宅接駁量按年升2%,新奧能源仍為該行在公用燃氣行業的首選,評級「買入」,目標價由140元下調至128元。 該行將公司2023至2025年各年每股盈利預測,分別下調9%、9%及8%,以反映上半年業績遜預期。
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