美銀證券:相信內房股下行空間有限 首選潤地(1109.HK)等四股
美銀證券發表報告指,根據該行的渠道調查,由於涉及的人手較少,內地房地產發展商的銷售中心較地盤更早重開,而建築活動料需要更長時間才可恢復正常。另外,根據該行早前舉行的電話會議,行業的大規模銷售或要待至3月底才會開展。
該行認為,內房行業目前估值相當於今年市盈率6.5倍,較歷史平均大約低0.6個標準差,相信股份下行空間有限,因大部分發展商至少在今年首季的流動性仍然穩固。
美銀證券行業首選為潤地(1109.HK)
、融創(1918.HK)
、金茂(0817.HK)
及奧園(3883.HK)
,其中喜好潤地及金茂有強勁的資產負債表,在土地市場有撈底機會;若市場有銷售復甦的現象,融創及奧園則是更高的beta
係數選擇。
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