周五盘中，KLN（00636.HK）股价大幅下挫10.64%，主要受到汇丰环球研究下调公司评级的影响。
汇丰环球研究发布最新报告，将KLN的评级从"持有"下调至"减持"。尽管将目标价从7.7港元上调至8港元，但分析师认为当前估值过高。报告指出，KLN今年股价包括派息在内累计上涨38%，不仅跑赢恒生指数29%的涨幅，还优于区内同业-5%至31%的表现范围。然而，目前股价对应的预测市盈率为12.4倍，较上市以来均值高出1.1个标准差，达到2022年3月以来的最高水平。
汇丰环球研究预计，KLN下半年经常性盈利将同比下降16%。分析师指出，公司在跨太平洋航线上的国际货运代理业务面临挑战，加上中国内地和香港综合物流业务复苏缓慢，这些因素将对盈利能力和股价构成压力。此外，预期海运运费率和货运量回归正常水平，以及空运需求在下半年面临逆风，进一步增加了公司的经营压力。在这一背景下，市场对KLN未来业绩表现的担忧加剧，导致股价出现大幅下跌。
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