大摩:燃气股中最偏好新奥能源 预计其有价值重估潜力

金融界
19 Feb

摩根士丹利表示,市场已预期在宏观疲弱及液化天然气价格高企下,中国今年天然气使用量增长放缓,关税问题逆转天然气成本下降的正面预期。该行料新奥能源有价值重估潜力,因其股息吸引及市场忽视的增长动力。该行在燃气股中最偏好新奥能源,基于8倍市盈率及6.5厘股息率的吸引估值;较高的综合能源及增值业务比例,能在行业放缓下提供较同业更多的增长支撑;而且今年有潜在的液化天然气交易收益。该行下调对华润燃气评级至“与大市同步”,反映对基本因素的短期忧虑;上调对昆仑能源评级至“增持”,认为其防守性在行业放缓中具优势。

责任编辑:小讯

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