瑞信:內房商11月銷售勝預期 首選融創、中海外等四股
瑞信發表報告表示,據易居中國旗下克而瑞信息集團(CRIC)公佈初始數據預測,該行追蹤的內地29個物業發展商於今年11月銷售物業按年升24%,但按月則下滑4%,若撇除恆大(03333.HK)後按年增長率為25%(按月升5%),優於市場預期,主要受基數較高所影響,而首100大內地物業發展商於11月銷售按月改善11%。
該行認為,內房商銷售強勁主要受推售新盤及採取保守定價所推動,展望今年12月銷情,估計部分發展商銷情放緩將不會令人感到意外,但發展商已大致達到原先今年銷售目標。
據內媒近日報道廣東省佛山樓市公佈限購定向鬆綁,瑞信估計內地至明年1月進一步放鬆內地樓市政策的機會上升,指目前內房行業估值相當預測2020財年每股資產淨值折讓48%,隨着行業政策面臨放鬆,中期具質素增長改善,相信內房股將可跑贏大市。
而該行首選包括中國海外(00688.HK) 、融創中國(01918.HK)、旭輝(00884.HK)及合景泰富(01813.HK),均予“跑贏大市”,各予目標價39.4港元、55港元、7.4港元及13.1港元,指考慮到估值因素。
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