《大行報告》花旗降新奧能源(02688.HK)目標價至72元 新CEO及CFO引領今年業務復甦
花旗發表報告指,新奧能源(02688.HK)指引今年業務復甦,扣除液化天然氣交易收益的核心盈利,估計按年增長不少於10%。去年第四季新委任行政總裁及財務總監,新的策略逐步執行,將會改善基本因素。該行預期公司今年純利溫和下跌3.6%,明年則下跌1.3%,主要因為液化天然氣價格下跌,海外交易收益較少。
該行將其目標價由75元下調至72元,維持「買入」評級,主要因為內地燃氣銷售量今年將回復增長,利潤率提升;新業務及增值業務快速發展;以及公司財務狀況強勁,擁有正面現金流和提高派息比。現價相當於今年預測市盈率8.8倍、市賬率1.4倍、股息率5.2%、股本回報16.3%,估值吸引。
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