高盛:维持恒大(3333.HK)评级“中性” 目标价23港元
高盛发表研究报告,指中国恒大(03333.HK)上半年核心盈利按年跌52%至150亿元人民币,相当于该行及市场全年预期的40%及29%(2018年上半年表现相当于2018年全年预期的77%)。此外,纯利率差过预期,主要由于入账较少的情况下,销售、一般及行政开支比例较高,以及财务开支等因素所致。

该行将公司2019至2021年各年基本每股盈利分别下调0%、1%及11%,以反映毛利率低过预期、债务及财务开支高过预期,及反映上半年最新收购土储的因素。该行将恒大目标价由28.8港元降至23港元,并指现估值合理,相当於今年预测市盈率5.6倍及预测市帐率1.4倍,维持“中性”评级。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.