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大摩:內房股前景吸引 行業首選融創、旭輝及華潤置地
格隆匯 12-11 15:22

摩根士丹利發表研究報告,預期內房股在2020年的表現將跑贏恆指,主要是受政策及信貸放鬆、優質發展商具穩健的合同銷售及盈利增長、以及估值吸引所帶動,繼續認為此行業具吸引力。首選融創中國(01918.HK)、旭輝控股集團(00884.HK)及華潤置地(01109.HK)。

大摩預期,2020年內地房地產市場表現穩定,預期全國房地產銷售額按年增長5%,成交量或微跌1.3%,而銷售均價則增長6.4%;預料全國新屋動工按年增長3%;全國房地產投資增長6%。進一步的市場整固將會為大型發展商帶來穩定的銷售及收益。

在該行所覆蓋的內房企業中,預期它們的銷售增長介乎10至20%,2019財年的盈利平均增長23%,2019至2021財年的年複合增長達21%。

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