美银美林升金茂(0817.HK)评级至“中性”目标价上调至5.4港元
美银美林发表报告,上调中国金茂(0817.HK)
投资评级,由“
跑输大市
”升至“
中性
”,源于其混改推进,国务院国资委或放宽对其杠杆、并购及管理层激励的规管。此外,随着母企中化集团的持股量降至35.1%,对公司进一步配股的忧虑已被纾缓。
该行将金茂目标价由4.7港元上调至5.4港元,此相当于每股资产净值
折让40%,基于延伸对其每股资产净值估值,并下修今年每股盈测至56.4分人民币,相当于按年升27.7%;2020及2021年则分别上调至65.5及74.1分人民币,相当于按年升16.1%及13.1%,以反映合约销售表现改善。
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