野村:對內地房地產行業維持正面看法 籲買入融創(1918.HK)等4股
野村發表行業報告,對內地房地產行業維持正面看法,當中看好融創中國(1918.HK)、旭輝控股(0884.HK)、奧園(3883.HK)及碧桂園(2007.HK),均予以“買入”投資評級。
野村稱,投資者目前對內地房地產股板塊好淡爭持,其中看淡的投資者認為,從近期知名內房進行配股反映行業股價已見頂;至於看好的投資者則是基於部分領先內房企業合同銷售增長強勁,以及政策在第四季至明年首季有潛在放鬆的機會。而該行認為,大多數發展商配股集資的風險屬可控,主因他們的股價仍較其12個月高位低約10至15%,或較其歷史市盈率仍低20至25%,加上調控政策放鬆信號持續升温,以及合同銷售增長勢頭亦有所反彈。
野村預期,該行所覆蓋的內房股10月份合同銷售料按年回升30至35%;第四季銷售則按年升30%,並相信大多數的內房企業今年銷售目標均能達標,惟認為富力地產(2777.HK)要達標將較具挑戰性,故予“中性”投資評級。而今年內房企業全年銷售料按年增長20%,明年增長則料減慢至15%。

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