《大行報告》匯豐研究降東方海外(00316.HK)目標價至80元 持續承壓
匯豐研究發表報告指,東方海外(00316.HK)公佈去年業績後,股價下跌16.7%,因爲投資者可能對派息感到失望。在業績發佈會上,管理層宣佈2024至2026年新的派息比率範圍爲30至50%,與母公司中遠海控(01919.HK)一致。
匯豐研究指,隨着盈利迅速正常化,以及計劃中的新造船資本支出、集裝箱投資和物流能力,認爲東方海外股息可能會繼續令人失望。同時預計集裝箱航運業將在明年見底,並將東方海外明年的盈利預期下調9%,以反映行業趨勢。2024至2026年的派息比率預測從50%下調至40%。目標價由97元下調至80元,評級維持「減持」。
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