《大行报告》花旗微升龙光集团(03380.HK)目标价至19.38元 评级「买入」
花旗发表研究报告指,龙光集团(03380.HK)有长期可持续增长前景,今年预期有11个城市更新项目将转化500亿元人民币货值,2021至2023年将合共转化1,500亿元人民币,支持未来几年发展布局。
龙光订立未来三年权益销售目标年均增长20%的目标,花旗认为,集团有68%销售来自大湾区及长三角,预期进入上海、南京、宁波等市场後,可将业务重心由大湾区拓展至全国。
另外,集团预期租金收入未来5年可增长10倍,至2025年目标达到30亿元人民币,加上财务水平合符当局「三条红线」要求,派息比率高达40%,估值水平吸引,确信「买入」评级,目标价上调至19.38元。
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