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《大行报告》德银上调雅居乐(03383.HK)目标价至14.1元 评级「买入」
阿思达克 03-25 10:33
德银发表研究报告,指雅居乐(03383.HK)去年业务符预期,主因海南项目销售入账,以及2019年低基数所致,核心盈利升106%至83.5亿元人民币,派息升10%至1.1元,相等於派息比率为43%。评级「买入」,目标价由13.5元升至14.1元。

该行指,管理层的展望给予市场更乐观的预期,包括合约销售额目标增16%至1,500亿元人民币,收入增25%,毛利升至27至30%。

该行又指,公司改善现金/短期债务比率,主因去年出售资产所致,负债比率亦降至61%,管理层指会进一步改善债务状况,今年资本开支为400亿元人民币,需要更严谨控制财政状况以达至目标。

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