《大行》摩通:本地公用股首選長建(01038.HK)電能(00006.HK) 輕微下調中電(00002.HK)目標價
摩根大通發表研究報告指,本地公用股中期業績表現預期分化,其中長江基建(01038.HK)及電能實業(00006.HK)有望受惠於英國業務強勁表現及英鎊匯率輕微利好,預測長建及電能上半年盈利增幅介乎2%至3%。
摩通指出,煤氣(00003.HK)在香港及內地燃氣費上調推動下,預測中期盈利按年增長2%。相反,預期中電(00002.HK)上半年業績或疲弱,按年跌幅料約10%,主要來自陽江核電廠電價下調,拖累內地業務利潤水平,以及澳洲業務受市場劇烈競爭的打擊。
摩通列長建及電能為行業首選,目標價均為58元;其次偏好煤氣,目標價7.25元;中電則次之,目標價從71元降至70元,全部給予「增持」評級。該行又指,年初至今香港公用股表現較其他高息板塊遜色,反映企業盈利對港元拆息回落及中國內地宏觀企穩敏感度相對較低。
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