摩通升中骏集团(1966.HK)目标价至5.7港元评级“增持”
摩根大通发表报告,上调中骏集团(1966.HK)
目标价,由5.5港元上调至5.7港元,维持“
增持
”评级。该行相信中骏集团已找出其达致可持续增长的势。公司原来采用旭辉控股(0884.HK)
的模式,透过成立合营推动销售规模。今年则采用类似新城发展(6030.SH)的模式,收购混合用途土地。该行相信,有关改变将使中骏集团继续取得领先同业的销售增长,今年将按年升五成,明年则升三至六成,且有稳定毛利率。
该行把中骏集团列为新兴市场发展商三只优先选股之一,与美的置业(3990.HK)
及中国奥园(3883.HK)
并列,又认为3.9倍的预测市盈率
及7%股息率
吸引,并指公司有三项催化因素:全年销售超标、市场上调明年及后年盈测及主席或增持股份。
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