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《大行報告》匯豐研究下調旭輝控股(00884.HK)目標價至7.3元 評級「買入」
阿思達克 08-27 09:51
匯豐研究發表報告指旭輝控股(00884.HK)上半年業績表現中性,維持「買入」評級,目標價由7.7元下調至7.3元。 匯豐研究指,旭輝控股上半年毛利率按年減少4.9個百分點至20.7%,處於今年3月提供的指引的低端。管理層表示今年的毛利率達到20%的底部後將趨於穩定。因此該行相信毛利率最差的情況應該已經過去。 匯豐研究指,房地產行業一直受到政策不確定性的壓力,旭輝控股也受到這種大趨勢的影響。管理層提出2021至2023年目標,並表達對長期發展的信心,包括保持15%的應佔合同銷售額按年增長;增加非房地產開發業務的收入,實現多於50%的租金收入按年增長;將40%至50%的土地收購預算用於多元化渠道,以控制土地成本,促進商業地產開發。該行相信這些目標有助於投資者定鎖定其長期增長。
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