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信义光能(00968.HK)福莱特(06865.HK)弹逾3%及5%
阿思达克 10-20 11:01
福莱特玻璃(06865.HK)继本月9日升至28.6元纪录高位遇阻掉头向下,昨天跌至19.8元获承接後,今天股价扭四连跌重越20天线(21元),最高见21.5元,现造21元,回升5.3%,成交540万股,涉资1.13亿元。

信义光能(00968.HK)继本月8日升至15.22元纪录高遇阻後,掉头反覆回落至接近20天线(12.15元)获支持,今日扭三连跌,股价高见13.18元,现造12.84元,回升3.2%,成交1,595万股。

大和昨天表示,信义光能股价於过去两个月累升56%,主因是太阳能玻璃价格自7月起累升60%。不过,由於在供应增加情况下玻璃价格进一步上升空间有限,该行相信市场情绪已大致反映,而且因供需动态改善,预期太阳能玻璃价格在明後年或会调整,故调低公司明後年每股盈测8%-11%,以反映新的产品均价假设。此外,由於信义光能现时估值高企,短期或面对投资者锁定利润压力;若撇除太阳能发电场业务後现估值相当於明年预测市账率10倍,对比福莱特玻璃仅6倍计,前者估值高出约70%,在毛利率相若下,预料两者估值差距会收窄。因此,大和将信义光能目标价由16元调低至13.5元,评级由「跑赢大市」降至「持有」。

另外,高盛上周四指,根据市场数据,3.2mm及2.0mm太阳能玻璃均价自9月起,已分别累升23%及17%至每平方米37元及28元人民币。该行相信,太阳能玻璃需求强劲主因是双面模块渗透率上升,尤其是在海外市场,留意到在上半年出口模块中,渗透率达40%。由於海外市场均售价上升,相信大部分模组生产商将优先考虑海外需求,这或会进一步推动太阳能玻璃的出货量。为了反映双面玻璃解决方案采用度加快,该行将行业未来三年的太阳能玻璃需求预测及均售价分别上调5%-7%及15%-32%。同时,为了反映均售价上升预期,该行将福莱特玻璃及信义光能未来两年盈测分别调高11%-38%及3%-30%,目标价分别由原先20元及12%,升至30元及15%,评级皆为「买入」。

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