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花旗下调建滔积层板(1888.HK)目标价至8.5港元维持“买入”
格隆汇 08-12 13:30

花旗发表报告指,建滔积层板(01888.HK)上半年纯利按年跌39%,逊该行预期,主要由於其所有主要上游材料价格下跌,致其业绩表现差于A股同业。该行指由于中国对家居设备、汽车及智能手机之需求较预期差,相关项目占建滔积层板上半年整体收入逾75%,直接影响其业务表现。倘下半年盈利势头与上半年相若,而不是大幅倒退,花旗料建滔积层板下半年纯利将按年降29%,该行并降其2019年至2021年盈利预测16%至21%,目标价自11.5港元降至8.5港元。

报告称,目前建滔积层板股息率逾5%,加上预计2020年及2021年可录得每股盈利约20%的复苏,相信股价进一步下跌空间有限,维持“买入”评级。

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