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《大行報告》匯豐研究降海螺水泥(00914.HK)及華潤建材科技(01313.HK)目標價 下調亞泥(00743.HK)評級至「持有」
匯豐研究發表研究報告指,由於水泥價格仍然處於接近生產盈虧平衡的水平,預期水泥生產商今年特別是上半年的經營環境將十分艱難,市況改善預期要取決於需求何時穩定,以及供應何時減少。 該行對水泥行業持審慎態度,但因海螺水泥(00914.HK)的生產成本具領先優勢以及估值便宜,維持「買入」評級,目標價由25.8元降至24.2元。同時該行將亞洲水泥(00743.HK)的評級從「買入」下調至「持有」,目標價由3元降至2.4元。 匯豐研究維持華潤建材科技(01313.HK)的評級為「持有」,目標價由2.1元下調至1.4元,預期今年水泥需求將繼續按年跌2%,當中上半年降幅較大,下半年市況料趨向穩定,當中基礎設施投資持續可部分抵銷房地產新開工量疲弱,同時預期內地及香港水泥商今年平均股息率將達到約5%。
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