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美銀證券:升恆大(3333.HK)目標價至25港元 評級維持“買入”
格隆匯 01-14 11:16

美銀證券發表報告指,中國恆大(03333.HK)第一批及第二批戰略投資者已同意將其700億元人民幣(下同)股權投資投放日期推遲一年至2021年1月31日,料將消除市場近日對其懸念。

美銀認為,延長實現重組上市期限,將有助恆大在目前資金緊張的大環境下緩解短期資本壓力,但預期若恆大地產的重組未能在新限期前完成,恆大將需要作更大規模集資以應對。該行表示,恆大今年銷售目標提升8%至6,500億元,符合預期;考慮到其2020年預測市盈率約6倍,估值具吸引力,而且2018財年股息收益率達7%,因此將其目標價上調4%至25港元,維持“買入”評級。

惟該行又指,由於恆大地產重組文件已重新遞交予監管機構,相信2019財年的股息要到2021年才宣派。

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