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《大行報告》匯豐研究:福萊特玻璃(06865.HK)勝信義光能(00968.HK) 看好再生能源公用股
匯豐研究發表研究報告指,在需求及原材料成本轉嫁的推動下,10月初光伏玻璃價格進一步按週上漲12%至15%,但由於內地出現限電情況,令生產面臨風險。 該行表示,觀察到庫存已降至12天,反映下遊需求良好,加上主要生產商對成本上漲控制力較好,令光伏玻璃價格上升,相應上調3.2mm產品平均售價預測,預期今年售價將升至每平方米29元人民幣,毛利率料改善1.1至1.8 個百分點。 惟該行指,生產及交付受到電力限制打擊,福萊特玻璃(06865.HK)及信義光能(00968.HK)均承認部分生產程序的確受到影響,令電力短缺成爲持續不確定因素。 匯豐研究將信義光能的目標價由18.9元輕微下調至18.8元,並將福萊特玻璃的目標價由47元降至46元,評級均爲「買入」,表示在風險回報考慮上更喜歡福萊特玻璃,同時看好可再生公用股,對中國電力(02380.HK)給予「買入」評級,目標價3.88元。
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