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《大行報告》花旗下調煤氣(00003.HK)目標價至7.2元 評級「沽售」
花旗發表報告指,即使預期煤氣(00003.HK)下半年燃氣銷量和單位毛利(dollar margin)較上半年有所改善,惟仍不足以令其成為一隻吸引的增長股,因其利潤增長低企,及預測今年度股息率4.3%亦不吸引。加上旗下港華智慧能源(01083.HK)太陽能資本開支增加,估計2023-2024年派息上升空間不大,作為收息股亦不吸引。 該行指,好消息是集團不會擴充現時盈利預見性較低的上游業務,因其盈利能力須視乎商品價格走勢。該行將煤氣2022-2024年淨利潤預測下調5%至16%,目標價下調10%至7.2元,重申評級「沽售」。
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