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瑞信:降鞍鋼(0347.HK)評級至“中性” 目標價下調至3港元
格隆匯 10-30 11:30

瑞信發表報告指,鞍鋼(00347.HK)今年首九個月純利按年下降75%至17億元人民幣,意味第三季純利為2.97億元人民幣,按年跌87.7%。盈利下跌相信主因需求疲弱及成本上升,使毛利率下降。

由於盈利能力前景黯淡且估值偏高,該行下調對鞍鋼股份評級,由“跑贏大市”降至“中性”,H股目標價由3.8港元降至3港元。另外,瑞信又下調集團今明兩年盈利預測分別40.3%及42.1%,至20億元及22億元人民幣,以反映毛利率較預期為低。因鋼鐵價格疲軟和鐵礦石價格堅挺,該行認為鞍鋼的毛利在今年末季的上升空間有限。

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