Core Viewpoint - Bank of America Securities reports that Everbright Environment (0257.HK) experienced a 10% year-on-year decline in net profit for the first half of the year, but when excluding one-off items, the profit before tax (PBT) increased by 23%, significantly exceeding expectations [1] Financial Performance - The interim dividend increased by 1 cent, with a payout ratio reaching 42%, up 7 percentage points year-on-year [1] - The company is expected to achieve an annual return of 6.5%, which is considered attractive, with potential for upward movement in dividends [1] Earnings Forecast - Earnings per share forecasts for 2025 to 2027 have been raised by 23% to 38% to reflect improvements in gross margins from waste-to-energy, green technology, and wastewater treatment businesses, as well as reduced impairment losses and lower debt costs [1] - The target price has been adjusted from HKD 4.5 to HKD 5.3 [1]
大行评级丨美银证券：升光大环境目标价至5.3港元，派息存在上行空间