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《大行報告》高盛將信義能源(03868.HK)剔出確信買入名單 降龍源(00916.HK)目標價21%至9元
高盛發表研究報告指,其所覆蓋的大部分太陽能公司的第二季業績均較預期理想,而大多數風電公司的次季業績則由於出貨量疲軟而弱於預期。該行認為,風電在充滿挑戰的環境中,組件和渦輪機的利潤率有很大壓力,但出貨量或會自下半年恢復。 該行表示,隨著多晶矽價格在6月底觸底反彈,中國的需求強烈回升,導致多晶矽價格由之前的低點反彈25%。領先組件製造商的利用率在9月持續改善,令該行對今年第四季的下游需求持樂觀態度,維持中國太陽能裝機容量預測為150GW,按年增長72%,又預計N型電池將會加快滲透,EVA玻璃膠片和太陽能玻璃的利潤率將在下半年進一步改善。 該行續指,風電自7月以來需求開始復甦,相關公司預計8月和9月出貨量將按月恢復10%,又預期海上風電審批流程將在下半年加快。該行將今年風電裝機容量預測下調20%至56GW,並將明年預測微升1%至86GW。 該行指,基於加快電網配電投資,維持對信義能源(03868.HK)的「買入」評級,但由於短期內的催化劑有限,將其剔出確信買入名單,目標價為3.9元。而龍源(00916.HK)的「中性」評級,惟下調目標價21%至9元。
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