大行評級|招銀國際:下調中通快遞目標價至271港元 仍看好盈利增長策略
招銀國際發表研報,維持對中通快遞的“買入”評級,指出其第三季EBIT按年增長17%至28億元,符合預期。季度列賬基準淨利潤僅按年增長1%至24.6億元,相信是由於去年第三季的一次性退税所致。在行業價格競爭下,管理層下調了今年全年包裹量增長指引,由於包裹量和單位利潤下降,招銀國際相應將其2024至2026年盈利預測下調5%至9%,但強調仍看好中通的盈利增長策略及其強勁自由現金流能力,目標價從299港元降至271港元,對應2024年預測市盈率約22倍。
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