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大行評級|花旗:對華潤燃氣開啟30日下行催化觀察 評級下調至“中性”

花旗發表報吿,對華潤燃氣開啟30日下行催化觀察,因為其基數較高,預計4至5月份的天然氣零售量增速將較首季放緩。由於單位利潤上升和折舊成本下降,上調2024至2026年集團淨利潤預測介乎4%至8%。花旗對潤燃目標價由26港元上調至29.5港元。考慮到近期零售銷氣量增長低迷以及缺乏併購催化劑,將評級由“買入”下調至“中性”。潤燃現估值相當於預測2024年市盈率11.4倍,市賬率為1.4倍,收益率為4.8%,並不算特別低。在中國燃氣行業中,該行更看好新奧能源,因為其月度燃氣銷量增長更高。

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