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大行評級|美銀:上調海螺水泥目標價至27港元 列爲行業首選
格隆匯 04-07 14:28

美銀髮布研報指,海螺水泥管理層對今年持續盈利復甦樂觀,因今年至今溫和且連續的價格上調已被證明是捍衛市場份額的成功策略,利潤率回升至每噸70元以上。儘管統計數據顯示今年首兩個月全國水泥需求略有收縮,海螺水泥預計首季銷量將增長5%。該行估計海螺水泥今年首季每噸毛利爲69元,淨利潤將按年反彈39%至21億元。

報告指,海螺水泥預計年內進一步更新管理層激勵計劃,並指引未來三年股息支付比率超過50%,同時新增中期股息以回報股東。該行下調對海螺水泥今明兩年業績預測4%及9%,目標價上調8%至27港元,另將海螺創業目標價上調18%至8.48港元,評級均爲“買入”,而水泥股中該行首選海螺水泥。

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