《大行報告》花旗升時代中國(01233.HK)目標價至18.6元評級「買入」
花旗報告指時代中國(01233.HK)上半年再一次憑四個舊改項目證明其獨特的土儲優勢,增加了320億元人民幣可售資源。公司潛在土儲約2,800萬平方米或約4,800億元人民幣(包括2019-2021年的1,250萬平方米或2,100億元人民幣土儲),加上現有的2,300萬平方米(4,000億元人民幣)土儲,支撐了公司的穩定毛利(毛利率約26-28%)及約30%的銷售/盈利年複合增長率。
該行又指,上述優勢加上強勁的執行力及估值吸引,相信將迎來新一輪市場重估,該行將時代中國目標價由17.69元上調至18.6元,重申「買入」評級。
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