建银国际发布研报称,维持新奥能源(02688)“中性”评级,目标价由56.9港元上调至65港元。
该行预期新奥能源私有化计划将提升合并实体的每股盈利,因为新奥股份的盈利前景疲弱。在公司管理层看来,两间实体的合并将有助于优化天然气供应链资源,这是应对环境变化所需的。
建银国际提及,新奥能源的少数股东可能担心持有新奥股份H股的盈利可见度。该行认为,近期股价上涨已大致反映了潜在的收购溢价,并将2025至2026财年的核心盈利预测分别上调1%及3%,以反映更高的合营企业/联营公司利润。
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