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《大行報告》匯豐研究下調綠城中國(03900.HK)目標價至12.2元 評級「買入」
阿思達克 08-29 10:31
匯豐研究發表研報表示,內地房地產行業持續動盪,愈來愈多開發商出現違約、債務需展期或經營虧損,但綠城中國(03900.HK)上半年業績仍然強勁,展示出其財務穩定性及專注於一線城市發展的優勢。 該行指出,雖然已入帳未結轉金額令期內收入按年下跌約12%,但綠城少數權益佔比按年下降31%,毛利率亦按年輕微上升,體現出公司的定價能力。 該行預期,綠城手持豐富土地儲備,在房地產政策寬鬆時期來臨時有重新評級的潛力,維持「買入」評級,但基於近期行業估值壓力和人民幣貶值影響,將目標價從16元下調至12.2元。
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