《大行報告》瑞銀升中車(01766.HK)目標價至6.2元 時代電氣(03898.HK)降至36.1元
瑞銀發表研究報告指,受到政府置換鐵路列車計劃的正面影響,對相關行業仍持樂觀態度,相信其盈利增長前景將會改善、估值亦具吸引力。該行將今明兩年鐵路設備支出預測上調約13%,反映在客運增長和政府政策的推動下,對車組和維護的需求增加。該行將中車(01766.HK)時代電氣(03898.HK)於2024至26年的盈測平均上調4%和7%,期內每股盈測複合年增長率為11至12%。
該行提到,最新政府推動的大規模設備更新計劃可能會支撐未來3至4年的列車需求,並保守地估計2025至27年可更換逾3,000台。該行又預計鐵路設備業務強勁將完全抵銷城市軌道交通和新興業務增長疲弱的影響,而這種勢頭或會持續,2026年鐵路設備資本開支可能接近2014年的歷史高位。
該行予中車及時代電氣「買入」評級,由於中車盈利升級,將其目標價由5.9元上調至6.2元,而時代電氣因為非鐵路部門的市盈率較低,將其目標價由51.5元下調至36.1元。該行將中車列為首選股。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.