《大行报告》高盛将中国海外(00688.HK)剔出「确信买入」名单 目标价下调至27.4元
高盛发表研究报告,指将中国海外(00688.HK)从该行的亚太区「确信买入」名单中剔除,但维持其「买入」投资评级。该行指,中国海外股价累跌21%,相信主要是因为其预售收入增长较同业弱,以及今年首九个月的毛利率表现差过预期,因此将公司2021至2022年的核心盈利预测分别下调1%及7%。目标价由原来的31.1元下调至27.4元。
该行相信,中国海外营运疲弱因素已在股价上完全反映,但监於其强劲的资产负债表,预期中国海外将利用於政府实行「三道红线」政策的优势而减少直接竞争,从而推动其长期增长。
高盛称,预期中国海外并购新土地的情况下,预计其2020及2021年的合同销售增长分别达9%及8%。在今年的可售资源达6,800亿元人民币下,对於其完成全年销售目标约3,500亿元人民币有信心。
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