《大行》招銀國際預期三一國際(00631.HK)重返增長軌道 輕微上調目標價至8.7元
招銀國際研究報告指,預期三一國際(00631.HK)於2025財年將重返增長軌道,受穩定掘進機需求、大型港口設備強勁增長,以及國內礦用卡車表現超預期推動,認為將抵銷綜合採煤裝備(CCMUs)銷售相對疲弱的影響。此外,該行預期三一國際新興業務部門的虧損處於可控水平(2025年預估約2至2.5億元人民幣),認為可緩解市場擔憂。
招銀將三一國際2025至2027年的盈利預測分別上調3%至4%,並相應將目標價輕微上調,從8.2元升至8.7元(維持2025年預估市盈率11倍不變,為2017年以來的平均市盈率)。該行認為,三一國際盈利能見度正在改善,而現價相當於2025年預估市盈率8倍,是一個有吸引力的入市點,維持「買入」評級。
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