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《大行報告》大和上調煤氣(00003.HK)目標價至6.2元 5.9%股息率不太吸引
大和發表報告,將煤氣(00003.HK)目標價由5.65元上調至6.2元,評級維持「持有」,認爲其股息率5.9%不算非常吸引。去年核心盈利58.94億元,按年升11%,大致符合市場預期。公司指引今年煤氣銷量增長1%,內地城市燃氣銷量增長8%,利潤率改善,預料將成爲今年盈利的主要推動力。 報告指,煤氣去年每股派息持平於0.35元,在資本開支減少及盈利改善下,預期今年至2026年派息持平,若果純利重返80億元水平,則有可能增加派息,但相信在今年至2026年發生的機會不大。相比其他本港公用股,如電能(00006.HK)提供較高的股息率6.2%,雖然沒有削減派息對於部分投資者屬吸引,但煤氣的股價已反映有關因素。
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