《大行報告》高盛將中國海外(00688.HK)剔出「確信買入」名單 目標價下調至27.4元
高盛發表研究報告,指將中國海外(00688.HK)從該行的亞太區「確信買入」名單中剔除,但維持其「買入」投資評級。該行指,中國海外股價累跌21%,相信主要是因為其預售收入增長較同業弱,以及今年首九個月的毛利率表現差過預期,因此將公司2021至2022年的核心盈利預測分別下調1%及7%。目標價由原來的31.1元下調至27.4元。
該行相信,中國海外營運疲弱因素已在股價上完全反映,但鑑於其強勁的資產負債表,預期中國海外將利用於政府實行「三道紅線」政策的優勢而減少直接競爭,從而推動其長期增長。
高盛稱,預期中國海外併購新土地的情況下,預計其2020及2021年的合同銷售增長分別達9%及8%。在今年的可售資源達6,800億元人民幣下,對於其完成全年銷售目標約3,500億元人民幣有信心。
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