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.
《大行報告》大和升信義光能(00968.HK)評級至「跑贏大市」 上調福萊特玻璃(06865.HK)目標價至50元
大和發表研究報告,指明年上半年多晶硅供應樽頸料紓緩,料降低太陽能企業成本及刺激全球太陽能裝機量。該行上調全球太陽能裝機量2020至2025年年均複合增長由15%上調至18%,料除了多晶硅供應商外,其他太陽能相關企業均可受惠。 報告料隨著通威股份(600438.SH)、新特能源(01799.HK)及大全新能源(DQ.US)新產能上線,總一、二線多晶硅市場將由今年呈1.4萬噸供應缺口,轉至明年料錄5萬噸供應過剩,2023年供應過剩進一步增至26.3萬噸。因此,報告料多晶硅價格將維持每公斤逾150元人民幣高位直至2022年首季,當新產能釋放後,料急速跌至歷史低位介乎每公斤65至70元人民幣。 大和表示,隨著供應樽頸紓緩,未來各家太陽能企業成本競爭力將取決於科技。未來科技發展路徑未明,該行建議投資者專注於儀器生產商,可受惠於未來新產能。該行建議長線投資者收集太陽能玻璃之類的股份,因短期內料難有顛覆性技術。該行料隆基維持行業領導地位,對投資者呈良好切入點捕捉未來數年增長。 報告上調信義光能(00968.HK)投資評級,由「持有」升至「跑贏大市」,目標價由11.5元升至21.5元,料其2020至2023年間太陽能玻璃產能年均複合增長達35%,惟低於福萊特玻璃(06865.HK)同期的58%。報告上調信義光能2021至2023年盈測介乎7%至10%,以反映更高的乘用車玻璃銷售均價預測。 大和維持福萊特玻璃「買入」評級,上調2021至2023年盈測介乎15%至27%,以反映更高的乘用車玻璃銷售均價預測;目標價相應由25元倍升至50元,指其估值較信義光能呈折讓。 大和並降新特能源投資評級,由「買入」降至「跑贏大市」,目標價由49元削半至24.5元,反映明年下半年多晶硅價格潛在急跌。此外,報告上調信義能源(03868.HK)投資評級,由「跑贏大市」升至「買入」,目標價維持6元,指其今年下半年至2022年併購可見度高;料2020至2023年間產能年均複合增長達30%,同期每股分派年均複合增長料達19%。另該行料信義能源今年末期息每股19.3分人民幣,將屬股價正面催化劑。詳細投資評級及目標價見另表。
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