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《大行報告》瑞信下調中電(00002.HK)目標價至56元 評級「中性」
瑞信發表報告指,中電(00002.HK)全年經調整營運盈利為76億元,按年下跌23%,受澳洲營運虧損拖累。同時,受澳洲對沖合同的公允價值損失以及印度和中國的資產處置損失影響,淨利潤大跌至9億元,按年下降89%。好消息是雖然盈利下降,但全年總股息按年持平,股息收益率5.6%。 瑞信下調中電今明兩個財年的每股盈利預測8至9%,主要反映澳洲業務疲軟等。目標價相應由60元降至56元,評級維持「中性」。 在香港公用事業股中,瑞信指傾向於選擇長江基建(01038.HK)和電能實業(00006.HK),因為它們受管制利潤能見度更高,股息率亦更吸引。
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