大行評級|大摩:香港公用股的收益率吸引力較低 予“與大市同步”評級
摩根士丹利發表研報指,由於香港公用股的收益率吸引力較低,因此將該板塊股份評級定為“與大市同步”。該行解釋,在美國十年期國債債券收益率高企的情況下,香港公用股收益率差距仍相對較低,預計短期內收益率差距的上行空間有限。另外,該行預計美聯儲今年僅減息一次。該行提及,與香港電信業、地產業等以收益率為主的板塊相比,香港公用股的排名靠後。不過行業順風可能為其基本面提供結構性支持,並維持股息分派。大摩指,相較於長江基建,更為看好電能實業,因其收益率前景更佳,且營運現金流增長穩健,優於同業。該行將電能實業目標價上調由43港元至49港元,評級“與大市同步”;長江基建目標價由41港元上調至48港元,評級“與大市同步”;中電控股目標價由74港元下調至69港元,評級由“增持”下調至“與大市同步”。
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