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交銀國際:重申龍光地產(3380.HK)為行業首選 予“買入”評級
格隆匯 02-28 14:35

交銀國際發佈報告稱,龍光地產(3380.HK)發盈喜,預計2019財年的核心利潤將增長40%以上,基於新收購的項目和較高的盈利預測,將目標價從15.8港元上調19.49%至18.88港元,重申為行業首選,予“買入”評級。

該行表示,龍光核心利潤略高於預期,估計超過100億元人民幣(下同),毛利率將保持在30%至31%的水平。考慮下半年的融資環境有利於行業龍頭,該行預計龍光的融資成本將保持約6%。另外,龍光剛剛進入了恆指大型股指數,是第八支進入該指數的內地房地產股。該行認為,通過更穩定的增長和未來戰略,龍光預計2020-2022年權益歸屬銷售的複合年增長將達到20%以上,而利潤率將保持穩定,上調2019-2021財年的核心利潤預測。

該行還表示,龍光預計其銷售中心將在2月底前完全重開,預期未來有超過1800億元的可售資源計劃,相信龍光到2020年的銷售將增長20%。

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