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《大行》花旗升長建(01038.HK)及電能(00006.HK)評級至「買入」 上調目標價
花旗發表報告,將長江基建(01038.HK)及電能實業(00006.HK)的投資評級從「中性」上調至「買入」,長江基建目標價由49元升至62元,電能實業目標價由48元升至58元,主要基於潛在併購效益以及英鎊與澳元兌港元升值的雙重利好因素。同時,鑑於港燈-SS(02638.HK)股價在過去六個月上漲17%,將其評級從「買入」下調至「中性」,目標價由6.1元升至6.6元。該行建議投資者從港燈轉向長江基建和電能實業,以把握更大的股價上行潛力。2025年,長江基建、電能實業和港燈的預測股息率分別為4.7%、5.5%和5.2%。 在併購方面,據報長江基建可能已簽署協議出售其UK Rails業務,預計可實現相當於原始投資額兩倍的累計回報。集團主席李澤鉅稱「有買有賣,生意才能做得更大」。花旗預計該交易將於2025年下半年為長江基建帶來約2億至3億英鎊的處置收益。此外,《彭博》報道指出,長江基建可能對收購Thames Water及英國液化天然氣(LNG)接收站等新資產感興趣。該行估算,每投入10億美元併購資金,長江基建的淨利潤將增加3.12億港元,相當於淨利潤增長3.6%。電能實業因常與長江基建共同投資受監管的公用事業項目,具備類似的盈利提升潛力。
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