You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
瑞銀:降中石化(0386.HK)評級至“中性” 目標價下調至4.9港元
格隆匯 10-24 11:04

瑞銀髮表研究報告指,仍視中石化(00386.HK)是一隻股息率強勁的股份,但該行對其看法相較同業温和。石油市場因中東及美國製裁所引起的動盪,相對於亞洲自由市場煉油同業,短期而言可能更不利中石化。該行將中石化(00386.HK)評級由“買入”降至“中性”,目標價由5.8港元下調至4.9港元。

該行指,中石化存在的風險是,令人失望的派息比率和2020年資本開支指引,將成為3月份的負面催化劑。該行對其2019年下半年至2021年股息預測,較市場預期低14%至23%,而2020年至2021年資本開支預測則較市場預期高10至20%。至於正面催化劑則包括重輕原油折讓再擴大、內地煉油產能持續延遲及內地零售市場收緊等。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of this article is for reference only. It does not constitute an offer, solicitation, recommendation, opinion or guarantee of any securities, financial products or instruments.The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance.
uSMART
Wealth Growth Made Easy
Open Account