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《大行報告》瑞信下調海螺水泥(00914.HK)目標價至56元 評級「跑贏大市」
阿思達克 10-29 10:59
瑞信發表研究報告,指海螺水泥(00914.HK)首九個月純利按年跌9.5%至224億元人民幣,意味第三季純利按年跌14%至74億元人民幣,認爲主因煤價上升和「電荒」致銷量下跌影響。 報告稱,煤價上升壓抑利潤率。估算第三季自產產品每噸毛利134元人民幣,按年跌3.7%,按季跌8.5%,銷售均價每噸332元人民幣,按年升2.9%,按季則跌2.3%。第三季自產產品銷量8,100萬噸,按年跌9%,按季跌5%。該行料每噸毛利將由三季的130元人民幣,升至每噸170元人民幣。 該行降海螺水泥今年盈測3%至320億元人民幣,維持對2022至2023年盈利預期不變,目標價由60元降至56元,維持「跑贏大市」評級。
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