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《大行報告》里昂升恆安(01044.HK)評級至「買入」 目標價降至35元
阿思達克 08-25 10:29
里昂發表評級報告指,恆安(01044.HK)上半年銷售符合預期,惟純利遜於預期,主要是受毛利率受壓及銷售開支高所拖累。該行表示,隨著原材料木漿價格走勢緩和及持續高端化,預料下半年毛利率按年改善2.6個百分點至35.4%。 該行指,在業績公布後,對集團銷售預測基本保持穩定,而由於上半年銷貨成本(COGS)受壓,因此將全年毛利率預測下調30個基點,加上外匯損失,料全年度淨利潤減少15%。該行將其目標價由37元下調至35元,但因看到短期淨利潤率見底,加上估值低及具良好風險回報,評級由「跑贏大市」升至「買入」。(ca/k) ~
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