《大行》招銀國際降兗煤澳大利亞(03668.HK)目標價至34元 維持「買入」評級
招銀國際發表報告指,兗煤澳大利亞(03668.HK)第二季應佔產量或銷量按年分別增長15%和下跌6%,主要由於惡劣天氣導致港口臨時關閉,影響了交貨。第二季混合平均售價按年下降22%,但與市場趨勢基本一致。該行估計公司第二季收入約為11.4億澳元,按年跌26%。
該行下調兗煤澳大利亞2025至2027年各年盈利預測各22%、17%及13%,主要是由於煤炭平均售價下降,儘管銷量假設略有上升。但仍維持「買入」評級,因為物流問題改善,預期第三季產銷比將上升,加上動力煤價格自6月起反彈。目標價由36元下調至34元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.