大行評級|花旗:下調信義光能目標價至5.3港元 預計上半年業績遜預期
花旗發表報吿,預計信義光能上半年業績遜預期,原因是太陽能玻璃價格在5月中旬下跌2至3%,6月初再跌4至6%; 新增產能落後於計劃。該行預測,在去年上半年低基數下,公司今年上半年的淨利潤將按年增長37%至19.12億元。
花旗預計信義光能2024至2026年淨利潤下降9至11%,主要原因是太陽能玻璃銷量和發電量減少,目標價由5.8港元下調至5.3港元。雖然近期需求疲軟,但由於成本領先優勢和穩定的市場格局,帶來具韌性的利潤率,以及考慮到8.2倍2024年市盈率、1.1倍市淨率和5.8%收益率,維持“買入”評級。
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