《大行报告》瑞信引述东风(00489.HK)料A股年底挂牌 估或采措施提振H股股价
瑞信发表报告表示,引述东风集团(00489.HK)管理层称其在A股上市计划,料或可於今年年底完成,每股作价将不低於15元人民币(其账面值),此较其目前H股股价有较大价差,该行估计东风管理层或会采取措施,估计其或会上调派息比率至30%以上、进行股份回购及母公司进行增持,以提振东风H股的股价。
该行表示,重申对东风集团「跑赢大市」评级,上调目标价由10元升至10.8元,指公司为该行在内地汽车股的首选股。
瑞信表示,据中国汽车制造业协会数据,东风集团(00489.HK)旗下三大主营运领域,包括与本田合营、丰田合营及东风风神於今年10月销量按年升11.5%,增速比行业按年升7%为快,而东风本田、东风丰田及东风风神期内销售按年各升6%、20%及14%。
该行指,东风集团10月销量增长高於该行今年下半年原先5%增长预测,该行决定轻微上调对东风於2020年至2022年每股经调整盈利预测各1.3%、1.1%及1.1%,各至1.1元、1.62元及1.6元人民币。
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