大和:旭輝(0884.HK)6月份銷售或創歷史新高 維持買入評級
大和總研發表研究報告指,預計旭輝集團(0884.HK)在5月份銷售改善之後,6月份的銷售將創歷史新高,又認為公司是高質量的開發商,但股價表現和估值方面落後於較大的同行,並且還有上升空間。該行維持其買入評級,以及目標價8.4港元。
大和指出,公司早前以18億港元出售5項香港物業及貸款共7.74億港元予控股股東兼主席林中和執行董事林峯及林偉所持公司,料錄可變現收益約1.03億元。該行指出,該價格高於收購成本15.88億港元和評估市值16.91億港元。又認為,收購永升的股權可能會增加其經常性收入,而其股權收購和物業出售都可能有助於降低其淨負債率。
大和將旭輝2020-22年預測收入提高了4-15%,以反映永升於旭輝集團財務報表入帳;又將2020年預測每股盈利提高1%,以反映物業出售收益。

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