大行评级|瑞银:上调招商局港口目标价至17.5港元 上调2025至27年纯利预测

格隆汇
Jul 30, 2025

瑞银发表报告,预计招商局港口上半年经常性净利润将按年增加6%,主要由于集装箱箱量的健康增长,以及国内和海外港口收费按年增加3-4%。然而,考虑到有不正常项目,包括2.98亿港元金融资产/负债公允价值变动净额,该行认为公司上半年的净利润将按年减少9%。瑞银对招商局港口目标价由16.9港元上调至17.5港元,以反映货柜量较预期为佳,上调2025至2027年纯利预测1至3%,维持“买入”评级。

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