大行評級|大和:下調信義能源目標價至0.81港元 評級降至“跑輸大市”
大和發表研究報吿指,信義能源今年上半年純利符合其早前公佈的盈警及指引,但業績細節暴露出結構性問題。當中,集團上半年的財務成本按年增22%至1.98億港元,實際利率維持在4.71%的高位;淨負債比率持續惡化;及限電和電力市場化交易完全抵銷了上半年發電量的增長。大和認為,限電的情況不太可能在短期內得到改善,而信義能源正面臨着與同行相同的限電問題,並認為其估值仍然不具吸引力。該行削集團2024至2025年的每股盈測22至25%,評級由“持有”降至“跑輸大市”,目標價由1.1港元下調至0.81港元。
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