<p>摩根士丹利发布了一份研究报告，更新了中煤能源（01898.HK）的风险收益状况 -0.850 (-5.940%) 空头头寸 1786 万美元；比例 29.751%，指出其盈利表现展现出超出预期的韧性，受益于成本控制和煤化工业务的复苏。该券商预计，2026 年大陆煤炭价格将较 2025 年水平小幅上升，受到预期海外供应中断和进口价格上涨的支持。</p>
<p>该券商补充道，中东地区紧张局势加剧使得油价保持高位，推动化工产品价格上涨，并支持其煤化工板块的盈利贡献。在考虑实际结果后，摩根士丹利将今年和明年的每股收益预测分别下调了 3% 和 2%，同时维持 “增持” 评级。目标价从 17.5 港元上调至 17.7 港元。（hc/u）（香港股票报价延迟至少 15 分钟。空头数据截至 2026 年 5 月 5 日 16:25。）</p>
<p>本文由 AI 自动翻译，中文版本应视为权威版本。AASTOCKS.com Limited 不保证其准确性或完整性，并对因使用此翻译而产生的任何损害或损失不承担任何责任。</p>

中煤能源

国泰中证煤炭ETF

<p>摩根士丹利将中煤能源评级为 “增持”，理由是由于成本控制和煤化工业务的复苏，盈利超出预期。该公司预计，由于海外供应中断和进口价格上涨，2026 年大陆煤炭价格将略有上升。摩根士丹利将今年的每股收益预测下调 3%，明年的预测下调 2%，同时将目标价从 17.5 港元上调至 17.7 港元</p>

<p>M Stanley issued a research report updating the risk-reward profile of CHINA COAL (01898.HK) -0.850 (-5.940%)  Short selling $17.86M; Ratio 29.751%  , noting that its earnings performance has shown better-than-expected resilience, benefiting from cost controls and a recovery in its coal chemical business. The broker expects mainland coal prices in 2026 to edge up from 2025 levels, supported by anticipated overseas supply disruptions and rising import prices.</p>
<div class="lb-trans"><p>摩根士丹利发布了一份研究报告，更新了中煤能源（01898.HK）的风险收益状况 -0.850 (-5.940%) 空头头寸 1786 万美元；比例 29.751%，指出其盈利表现展现出超出预期的韧性，受益于成本控制和煤化工业务的复苏。该券商预计，2026 年大陆煤炭价格将较 2025 年水平小幅上升，受到预期海外供应中断和进口价格上涨的支持。</p>
</div><p>The broker added that heightened tensions in the Middle East have kept oil prices elevated, driving up chemical product prices and supporting earnings contribution from its coal chemical segment. After factoring in the actual results, M Stanley trimmed its EPS forecasts for this year and next year by 3% and 2%, respectively, while maintaining an Overweight rating. The TP was raised from HKD17.5 to HKD17.7. (hc/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-05 16:25.)</p>
<div class="lb-trans"><p>该券商补充道，中东地区紧张局势加剧使得油价保持高位，推动化工产品价格上涨，并支持其煤化工板块的盈利贡献。在考虑实际结果后，摩根士丹利将今年和明年的每股收益预测分别下调了 3% 和 2%，同时维持 “增持” 评级。目标价从 17.5 港元上调至 17.7 港元。（hc/u）（香港股票报价延迟至少 15 分钟。空头数据截至 2026 年 5 月 5 日 16:25。）</p>
</div><p>This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.</p>
<div class="lb-trans"><p>本文由 AI 自动翻译，中文版本应视为权威版本。AASTOCKS.com Limited 不保证其准确性或完整性，并对因使用此翻译而产生的任何损害或损失不承担任何责任。</p>
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M Stanley Rates CHINA COAL  Overweight, Expects Slight Rise in Mainland Coal Prices This Year

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摩根士丹利

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

摩根士丹利给予中煤能源增持评级，预计今年大陆煤炭价格将略有上涨