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《大行報告》大摩降碧桂園(02007.HK)目標價至11.52元評級「增持」
阿思達克 08-27 11:47

摩根士丹利發表研究報告,指碧桂園(02007.HK)上半年收入按年升53.2%至2,020億元人民幣,高過市場預期的按年上升45%水平。毛利率處於27.2%穩定水平,核心盈利按年升23.4%至159.8億元人民幣,好過市場按年升5-10%的預測。

該行指,雖然較低端城市表現放緩,但管理層對10%銷售增長有信心。今年首七個月,合約銷售按年跌7%至3,250億元人民幣,相當於銷售目標5,500億元的59%,要達成這個目標,今年餘下時間公司需要每月銷售460億元人民幣,與首七個月水平相若。由於公司下半年可售資源4,820億元人民幣,管理層有信心達成目標。該行將碧桂園目標價由12.82元降至11.52元,評級「增持」。

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