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《大行》匯豐微升太平洋航運(02343.HK)目標至1.9元續籲減持 上半年業績失望
阿思達克 08-08 11:35
匯豐環球研究報告指,太平洋航運(02343.HK)上半年業績令人失望,當中基本溢利為2,200萬美元,較該行預期低18%,主要因營運開支較預期高6%。上半年小靈便型(Handysize)和超靈便型(Supramax)貨船的按期租合約對等基準收入(TCE)分別按年跌7%及11%,反映供需前景持續承壓。 該行指,進入次季後,TCE前景有所改善,波羅的海乾散貨指數第三季至今較首季平均升64%,超靈便型與小靈便型TCE運費分別升62%及31%,升勢主要由於港口擠擁情況加劇及航行速度減慢,以致供應緊張,但需求前景依然疲弱。該行擠擁及慢速航行情況將於下半年紓緩,抑制運價升勢。而太平洋航運股價次季至今升逾三成,已很大程度反映上述利好因素。 匯豐環球研究將太平洋航運全年淨利潤預測輕微上調3%,預期下半年淨利潤按年跌42%至4,300萬美元。維持「減持」評級,但將目標價由1.7元升至1.9元。該行料股價將受壓,因市場下調2026年盈利預測,以及運費反彈勢頭減弱。
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