大行评级丨大摩:下调老铺黄金今明两年净利润预测,维持“增持”评级

格隆汇
Aug 31
摩根士丹利发表报告指,在老铺黄金中期业绩及业绩简报后更新预测,将2026至2027年净利润预测下调2-3%,目前预期2026年净利润同比增长42%至69亿元,意味着下半年同比仅增长3%,2027年净利润则增长3%。虽然金价在2月底至6月底下跌28%后已回升15%,且定价金产品的需求已出现早期环比改善迹象,但该行认为需求复苏将属渐进,而9月/10月的同比比较基数偏高。该行维持对其目标价505港元,以2026及2027年市盈率8.5-9倍、股息收益率逾8.5%计,估值仍具吸引力,维持“增持”评级。

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