大行評級|里昂:對水泥價格回升至去年上半年水平持樂觀態度 調整華潤建材及中國建材目標價
里昂發表報吿指,根據數字水泥數據,合肥及其他華東地區的水泥公司於7月16日將水泥價格上調每噸20元人民幣。今次是華東地區自6月以來的第二輪成功加價。此外,廣東公司最近亦都上調水泥價格每噸20至25元,亦是第二輪加價。該行相信今次水泥價格上升來自供應端的合作。企業選擇合作以維持供應與需求匹配,並提高價格以獲取利潤。雖然7月天氣再度轉差,但該行仍預期價格將維持於此水平直至旺季結束。
里昂對下半年水泥價格回升至去年上半年水平持樂觀態度。但由於許多地區尤其是華南地區持續多雨,認為價格進一步上升的空間有限。考慮到下半年前景良好,該行將華潤建材科技今明兩年淨利潤預測分別上調31%及43%,並將目標價由1.7港元上調至2.2港元,評級“跑贏大市”,同時亦將中國建材目標價由4港元下調至3.4港元,評級“跑贏大市”。
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