智通财经APP获悉，建银国际发布研究报告称，维持昆仑能源(00135)“跑赢大市”评级，将2024至2026年核心盈利预测下调3%、7%及9%，目标价从8.5港元微降至8.4港元。
报告预测昆仑能源液化天然气(LNG)加工厂利润将改善，燃气及液化石油气(LPG)销售利润将录高单位数增幅，抵消了LNG终端利润和石油勘探与生产业务利润的下滑的影响，目前预测2024年核心盈利按年增长1%，燃气销量将料录高单位数增幅，而LNG加工厂利润增幅则预期达到双位数。
该行表示，考虑到昆仑能源未来数年将每年生成超过60亿元人民币的自由现金流，该行估算其派息比率可能从2023年的40%上调至2024年的43%，憧憬燃气销售业务将成为昆仑能源2025年盈利的主要驱动力，提供较稳定的单位利润率，同时预测销量可实现中高单位数增长，支持今年全年核心盈利或增长3%。
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