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《大行報告》大摩調整內房股目標價 明年首選潤地、旭輝及合景
阿思達克 12-11 14:30
摩根士丹利發表研究報告,預計2021年內地房地產市場宏觀政策及信貸緊縮,但行業進一步緊縮風險有限,行業中首選華潤置地(01109.HK)、旭輝(00884.HK)及合景泰富(01813.HK)。

報告指,疫情後內地經濟復甦,預計隨著信貸增長及財政政策正常化,2021年將適度收緊融資環境,但預計進一步的收緊房地產政策的風險有限,因為自今年7月以來當局採取多項監管措施,市場表現已回軟。該行預測,明年全國住宅銷售額按年增長4.1%,新開工量增長2%,房地產投資增長6%,落成量料按年增長5%。

大摩指出,內房行業的估值目前處於2010年以來的歷史新低,政策和信貸下行風險有限,預期市場若繼續表現疲弱,政策或有放鬆可能,維持看好內房行業,但指出目前仍然缺乏強而有力的短期催化劑,建議投資者選擇基本面穩健的股份,該行調整內房股目標價,首選華潤置地、旭輝及合景泰富,均予「增持」評級,目標價46.46元、8.68元及14.31元。

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