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中金降碧桂园(2007.HK)目标价至14.06港元维持“强于大盘”评级
格隆汇 07-16 16:58

中金公司发表报告表示,碧桂园(2007.HK)今年上半年业绩或弱于预期,将其目标价下调10%至14.06港元,维持“强于大盘评级。

报告预计,碧桂园上半年核心盈利同比增长9.2%至141亿元人民币,尽管收入同比增幅料达到42%,而毛利率则与2018年持平,但销售成本、综合及行政管理费用上升以及少数股东权益会侵蚀利润。

报告又认为,7月份开始销售增长发力,将有望提高公司全年销售和盈利的可见性,并提振投资者的信心。另外,碧桂园资产负债情况仍然健康,因拿地克制,预计6月末净杠杆率约60%,而2018年末为50%。

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