摩根大通发表研报指，年初至今福耀玻璃(03606.HK) H股股价下跌7%。除了该股在去年上涨42%后可能获利回吐之外，近期美国及欧盟天然气价格上升亦可能导致其股价出现调整。
该行认为，美国天然气价格上涨对福耀玻璃的毛利率影响非常有限，至于欧盟能源价格上升实际上提高该公司出口模式的竞争力。另外，中国天然气价格在去年第四季按年下降，并可能在今年保持平稳，这对福耀玻璃来说是积极的消息，因为其大部分生产均位于中国境内。
摩通预计，今年福耀玻璃的毛利率将维持于约38%的高水平，该行对福耀玻璃的盈利预测较市场高出10%以上。并认为最近股价回调为增持的良好机会，福耀玻璃仍是该行在中国汽车零部件领域首选，故将其H股目标价定于52元，给予“增持”评级。(js/k)
(港股报价延迟最少十五分钟。沽空资料截至 2025-01-06 16:25。)
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