《大行报告》瑞银降金风科技(02208.HK)评级至「沽售」 目标价下调至9元
瑞银发表研究报告,降金风(02208.HK)评级至「沽售」,目标价由15元降至9元,相信公司风力发电机的均价和利润於今年首季见顶下跌,并带动股价下跌。
该行指,中国风电的装机於2021至23年,分别额外增加50GW、55GW及60GW,累计风力发电场产能达333GW、388GW及448GW,反映增长率放慢至11%、10%及9%。预期毛利分别为16%、14%及12%,对比2020年为15%。市场目前预期风力发电机的增长和利润於未来数年仍然强劲,但该行认为是过份乐观。
该行降2021至23年盈利预测分别18%、33%及47%,以反映风力发电机增长放慢、利润下跌,经常性盈利增长预测分别为10%、34%及48%,均较其他券商预期为低。
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