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《大行报告》美银证券下调龙光集团(03380.HK)目标价至16.7元 评级「买入」
阿思达克 04-07 11:22
美银证券发表研究报告指,龙光集团(03380.HK)去年表现稳健,重申「买入」评级,目标价降2%至16.7元。公司重申对2020至23年合约销售年复合增长率目标为20%,相信公司的知识和强劲的本地网络,将有助城改项目的发展。

因基数低,该行预期公司未来三年租金收入的年复合增长率为30%。因应未来销售占比会较多来自大湾区以外地区,将令利润受到侵蚀(由2020年30%降至2023年28%),2020至23年每股盈利年复合增长率达17%,跑赢小型发展商。管理层维持40%的派息比率,反映对财务表现稳健的信心。

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