《大行報告》大摩微降太平洋航運(02343.HK)目標價至2.96元 資產價格提升支持估值
摩根士丹利發表報告指,乾散貨現貨市場正從去年下半年的疲軟中緩慢回升,但在正面的細分市場前景及造船產能有限的支撐下,乾散貨船資產價格正接近多年高位。由於太平洋航運(02343.HK)現股價較資產淨值(估算每股約3.2元)大幅折讓,支持其估值,該行維持予其「增持」評級,目標價由3元下調至2.96元。該行又分別下調太平洋航運今明兩年的每股盈測18%和14%。
該行提到,截至今年3月8日,農曆新年假期後,超靈便型船和靈便型船的海運價格分別累升23%和33%,相信是由於現貨市場因鐵礦石出口增加而走強,及紅海和巴拿馬運河的運力持續中斷。另外,該行相信需求將會是推動週期的關鍵因素。中國以供應為主的政策可能會支持工業活動,從而有利於乾散貨運輸需求方。
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