《大行報告》匯豐研究下調招商局港口(00144.HK)目標價至10元 未見催化劑
匯豐研究發表報告指,招商局港口(00144.HK)上半年經常性利潤33億元,按年跌33%,但受惠成本控制措施,期內營運費用按年跌20%,勝於總收入下跌11%。中期每股派息22仙,派息率達27%。
該行表示,即使貨運量或有連續改善,惟通過上調運費來轉嫁成本上升的潛力有限,將公司今明兩年盈利預測下調16%至23%,並料其今年純利按年跌26%,意味著下半年純利較上半年下跌18%至27億元人民幣。將其目標價由13元下調至10元,維持「持有」評級。(ca/s)
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