大行評級|大摩:中國建材次季淨虧損為6.5億元遜於預期 予其目標價3.8港元
摩根士丹利發表研究報吿指,中國建材發出盈警,預計截至6月底止上半年虧損約20億元,相比上年同期淨利潤約14億元。這反映集團次季淨虧損為6.5億元,遜於該行預期,相信水泥業務是主要拖累因素。
大摩表示,由於內地資金緊張,建設進度緩慢且新項目較少,今年首五個月中國水泥產量按年下降10%,6月份水泥出貨量因降雨進一步放緩。在行業自我監控和淡季停產的影響下,6月下旬多個地區的水泥價格開始回升,料將支撐中國建材下半年的盈利。該行予其“增持”評級,目標價為3.8港元。
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