大行評級丨大摩:領先的水泥生產商應受惠於新的供應管制 上調華潤建材科技和西部水泥目標價
摩根士丹利發表研究報吿指,水泥行業經過上半年的嚴重虧損後已作出調整,加上生產控制政策,應有助於避免水泥生產過剩和提高行業整合。該行相信,領先的水泥生產商應受惠於新的供應管制,而且水泥不會受到潛在貿易競爭的影響。大摩表示,明年內房的開工及完工量可能持續下降。新的基礎建設與工業投資或會温和增長,進而令後期建築材料需求疲弱。此外,領先的生產商在銷售政策上已更加謹慎。該行下調華潤建材科技2024至26年的每股盈測18%、8%及5%,惟上調目標價19%至2.3港元;下調西部水泥2024年每股盈測5%,2025至26年盈測則分別上調22%及8%,目標價升至1.5港元。
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