《大行報告》交銀國際升信義光能(00968.HK)評級至「買入」 目標價下調至5.18元
交銀國際發表研究報告指,信義光能(00968.HK)11月至今的光伏玻璃產業新增日熔量僅爲2,000噸,低於預期,反映出產業擴產仍較爲理性。該行預計在產能預警機制限制下,明年產業產能或明顯低於市場預期,可能不會出現市場憂慮的嚴重產能過剩問題。
該行表示,第四季光電模組季減產導致玻璃價格由高位持續下跌,但預期組件價格大跌將刺激光電需求,明年下半年玻璃價格或會反彈。另外,該行認爲近期純礆價格大幅反彈的情況不會持續,因此產業盈利狀況更多取決於供需而非原料價格,故市場無需對純礆價格短期上升過份擔憂。
該行認爲市場對明年光伏玻璃產能過剩屬過度悲觀,將集團目標價下調至5.18元,評級由「中性」上調至「買入」。
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