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大行評級|美銀:重申中國石油化工“買入”評級 目標價上調至5.2港元
格隆匯 04-01 16:49
美銀證券發佈研究報吿稱,重申中國石油化工“買入”評級,指管理層注重投資者回報,有穩定而高水平的派息政策。考慮近期國企獲估值重評,予其H股目標價由5港元升至5.2港元。該行參加中國石油化工業績發佈會,管理層預計,2024財年國內油氣和成品油需求將趨於正常化,石油和成品油消費將以低至中單位數增長,天然氣需求料同比增長6.4%。該行指出,管理層對近期國內化工市場持審慎態度,因為隨着近期化工項目的陸續投產,化工產能的增長速度已經超過需求的增長速度;由於原料成本居高不下,化工產品利潤微薄。管理層預計隨着額外產能的消化和落後產能的替代,化工業務利潤將逐步恢復到正常水平。
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