《大行》美銀證券上調中建材(03323.HK)目標價至6元 持股中材科技價值已相當公司自身市值
美銀證券上調中建材(03323.HK)今年至2027年盈利預測10%至31%,目標價從4.5元上調至6元,相當於2026年市盈率11倍,較同業海螺水泥(00914.HK)略有折扣。重申對中建材「買入」評級,基於下半年季節性水泥價格上漲、年底前禁止過度生產及收緊供應、通過電子玻璃纖維實現間接的人工智能敞口,以及通過持有60%股份的中材科技(002080.SZ)為印刷電路板應用提供下一代Q-glass,中材科技股價自6月底以來已翻倍。
該行指,中建材在中材科技的持股價值已大致相當於中建材自身市值,儘管其僅佔第二季度收益不到20%,可能在第三季帶來更高的公允價值投資收益。此外,中建材派息增加,今明兩年股息率分別為5.1及6.4厘。
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