《大行報告》美銀證券下調太平洋航運(02343.HK)目標價至3.35元 評級「買入」
美銀證券下調太平洋航運(02343.HK)目標價,由3.45元降至3.35元,評級維持「買入」。
該行指,基於航運擠堵紓緩及更疲弱的中國宏觀狀況,太平洋航運股價的市賬率為0.85倍,但認為市場對於其未來盈利能力屬過度打折。該行指今年為公司失望的一年,但公司應能在今年取得7.4%股本回報率,且亦見明年及2025年盈利有上行空間,受惠宏觀改善及相對少的運載量供應增長。
該行亦指,公司股價短期催化劑包括10月披露的業務更新,以支持該行對公司今年下半年的盈利預測,以及在明年首季運費下跌前,未來數月的季節性運費亦有所支持。
該行下調對太平洋航運今明兩年基本溢利預測一成,同時下調運費預測至每日600美元,以反映現季弱於預期的運價。
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