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《大行報告》瑞信下調理文造紙(02314.HK)目標價至3.4元 評級「中性」
阿思達克 07-26 11:07
瑞信發表研究報告指,理文造紙(02314.HK)近日發盈警,預期上半年純利將按年下跌59%,相信主要由於能源及原材料價格上漲,蠶食利潤率,以及疫情導致市場需求疲軟,拖累上半年銷量。由於需求低迷,該行預計包裝紙價格將保持疲軟。 瑞信將理文造紙2022至2024年盈利預測下調32%、20%及19%,以反映銷量和利潤率預期下降,目標價由5.6元降至3.4元。 瑞信指,雖然大型紙廠近期有降價,但下游採購依然疲軟,造紙廠出貨量未見明顯改善,庫存水平仍較高,維持對理文造紙的「中性」評級。
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