《大行報告》中銀國際升神華(01088.HK)評級至「買入」 下調中煤能源(01898.HK)目標價至5.25元
中銀國際發表報告指,雖然內地燃料煤價格未有在夏季明顯上升,但估計今年餘下時間會有較好表現,兩大正面因素包括需求增加及產出增長放緩,低庫存水平令賣家有較好議價能力,該行將煤價預測輕微上調,不過在見到需求有較多改善跡象之前,維持對行業「中性」看法,在考慮派息因素後,首選神華(01088.HK)及首鋼資源(00639.HK)。
該行認為神華盈利質素較佳,股息率較高及成交活躍,今年預測股息率9.6%,估計之後兩年維持在8.9%至9.2%水平,上調2023至2025年各年盈測介乎1%至3%,H股評級由「持有」上調至「買入」,目標價由26.45元升至27.42元。
中銀國際另將首鋼資源評級由「持有」上調至「買入」,今年預測股息率料13.5%,目標價由2.05元上調至2.83元。
此外,報告指中煤能源(01898.HK)中期盈利遜預期,受累於燃料煤實現價格下跌,該行預期未來兩年銷量增幅只有5%,預測今年股息率7.4%,在高利率環境下相對吸引力較低,維持「持有」評級,目標價由5.36元下調至5.25元。
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