《大行》匯豐研究:政策利好提振建材行業樂觀情緒 惟基本面仍疲弱
匯豐研究發表研究報告指,中國建材行業近期受政策利好,帶動投資者情緒趨向樂觀,鋼鐵及水泥股因「反內捲」帶來的供給側改革預期升溫,以及雅魯藏布江下游水電項目支持而跑贏大市,雖然市場情緒改善,但行業基本面仍然疲弱。
該行全面上調建材股目標價,水泥行業首選海螺水泥(00914.HK)、華潤建材科技(01313.HK)及中國建材(03323.HK),目標價分別上調至28.7元、2.5元及5.4元,均予「買入」評級,預期政策所推動的板塊反彈是否可持續性,將取決於後續措施落實情況。
匯豐研究又指,雅下項目有助強化市場信心,但對建材需求實際影響有限,因建設周期長且區域集中,相信只有在西藏及西南地區擁有產能佈局的企業才能直接受惠。
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