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大行評級|美銀:維持中鋁“買入”評級 看好其可成為行業領導者
美銀證券發表研究報吿指,中國企業會計準則下中鋁今年首季純利錄22.3億元,按年增長23%,按季更增長63%,達到該行及市場估算全年純利預測的25%及29%。首季毛利率達14%,按年提升6個百分點產量。期內產量及銷量則分別按年增長16%及11%。根據美銀所得行業數據,今年首季行業平均利潤為每噸2,323元,按年提升1,400元;氧化鋁利潤為每噸477元,按年提升222元,預期中鋁今年首季受惠於氧化鋁價格上升和鋁生產成本低於市場。由於鋁價上升和煤價下跌,4月份鋁的平均利潤持續上升,美銀證券憧憬中鋁的盈利表現可於第二季進一步改善,目前預測2024年鋁及氧化鋁價可達到每噸19,500及3,200元,對鋁價保持樂觀,維持對中鋁的“買入”評級,看好其可成為行業領導者,目標價6港元。
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