大行評級|大摩:微升太平洋航運目標價至2.15港元 評級則降至“與大市同步”
摩根士丹利發表研究報告指,太平洋航運在過去四個月表現出色,風險回報均衡。上半年及全年盈利預計將按年顯著下降,但相信已反映在股價中。太平洋航運以每股資產淨值(NAV)的估值折讓、股東回報,以及Caravel Group持續的股份增持,均有助於緩解下行風險。
大摩表示,太平洋航運今年迄今現貨市場表現疲弱,其經營的小靈便型(Handysize)和超靈便型(Supramax)幹散貨船運費分別平均按年下降22%和34%,一年期租賃運費自年初以來略有下降,且價格與現貨運費基本持平,顯示市場對未來12個月的現貨表現缺乏樂觀預期。大摩將太平洋航運評級由“增持”下調至“與大市同步”,目標價從2.1港元上調至2.15港元,今年至2027年的每股盈利預測分別下調38.5%、31.2%及19.5%。
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