大摩:中央對內房行業釋出兩大正面訊號 首選融創(1918.HK)等
摩根士丹利發表報告表示,留意到中央對內房行業釋出兩大正面訊號。
第一是中證監向兩間發展商包括富力(2777.HK)
及首創置業(2868.HK)
批出H股發行准許,對比2014年3月時中證監亦向兩間在A股房企批出配股准許,其後中央對行業採取放鬆政策;
第二是今年12月的中央政治局會議並無提及內地房地產行業,較7月時立場更為“
鴿派
”,並指中央政治局自2014年以來僅4次會議無提及內地房地產行業(即2015年7月、2018年10月、2018年12月及2019年12月),該行認為內地或藉此釋出放鬆政策的訊號。
該行指,預期內地放鬆政策下,重申對內房股“
吸引
”看法,行業首選包括融創中國(1918.HK)
、旭輝控股(0884.HK)
及華潤置地(1109.HK)
,目標價分別為55.72港元、6.14港元及41.15港元,評級均為“
增持
”,因相關公司錄強勁銷售增長、較高盈利透明度、以及估值吸引。
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