《大行報告》花旗下調深圳國際(00152.HK)目標價至18.2元 評級「買入」
花旗發表的研究報告指,深圳國際(00152.HK)在6月30日公布今年將有39.3億元稅前收益入帳,佔該行對其2020財年稅前溢利預測約45%,主要來自第三階段前海換地協議,公司將獲三幅前海地,佔地約4.12萬平方米,可建樓面約17.2萬平方米,當中包括5萬平方米住宅及2.5萬平方米可售住宅。考慮到公司有足夠現金流及財務資源,料公司2020財年將派特別息,此外公司亦會透過發展項目進一步變現。
該行將其2020年盈利預測升22%,但就將2021及22年預測下調10%以反映航空業務方面的影響,認為或需要更多時間才回復至疫情前水平,目標價由19.5元降至18.2元,評級「買入」。
花旗認為公司將繼續受惠大灣區地價上升勢頭,由於前海第一期銷售比率已逾九成,估計2020年下半年及2021財年將獲16億元分享利潤,長遠而言認為南中國物流園變現等因素可成催化劑。
該行指出物流及航空業務正逐步復甦,當中物流業務已回復至疫情爆發前水平,相信未來亦將受惠於電商及快遞需求增長。此外,該行估計深圳航空受疫情影響較細,因為有約九成航班是國內航班,疫後復甦相對較快。(el/u) ~
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.