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《大行》瑞銀升紫金(02899.HK)洛鉬(03993.HK)目標價 重申「買入」評級
瑞銀研究報告指,有色金屬企業上半年業績表現再度穩健,其中洛陽鉬業(03993.HK)和紫金礦業(02899.HK)領先,盈利增長均逾50%;其次為中國宏橋(01378.HK)及江銅(00358.HK),而中國鋁業(02600.HK)和天山鋁業(002532.SZ)上半年盈利則大致持平。銅行業的主要主題為併購、產量增長及小眾金屬業務拓展,而鋁業則聚焦於股息分派和股份回購。 為反映業績表現,該行分別將紫金礦業、洛陽鉬業及江銅全年盈利預測上調6%、11%及26%,重申對紫金礦業和洛陽鉬業的「買入」評級,目標價分別升至32.5元及16.5元。同時,上調江銅評級至「買入」,目標價升至27.1元(見另表)。 而中國宏橋繼續是該行在鋁行業的首選,基於其潛在的去槓桿及對股東回報的承諾,目標價維持26.8元及「買入」評級。
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