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大行評級|大摩:下調金沙中國目標價至21港元 預計2025及26財年恢復派息
格隆匯 04-22 14:11
摩根士丹利發表研究報吿指,由於金沙中國2024財年的大眾市場份額下跌,以及今年第一季度的實際份額較低。該行因而將金沙中國2024財年的EBITDA預測下調8%,低於市場共識10%;2024財年的每股盈利預測下調14%;至於同期的每股派息預測下調至0.5港元,即2.6%的收益率;該行認為公司將優先考慮資本支出,及2025年8月到期的1.8億美元債券。該行同時將2025財年的EBITDA預測下調3%,比市場共識低5%;2025財年的每股盈利預測下調4%;至於同期的每股派息預測上調至1港元,即5.3%的收益率。並對2026財年的業績表現預測位置不變。摩根士丹利將金沙中國的目標價由23.5港元下調至21港元,評級“與大市同步”。另外,大摩認為金沙中國於2025及2026財年恢復派息,將對其股票帶來關鍵的長期利好因素,並分別提供5%及11%的收益率。
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