You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》高盛削內房股目標價 降碧桂園、禹洲評級至「沽售」 下調融創至「中性」
高盛發表研究報告,指中國政府正致力為房地產行業在短期內去槓桿化,並帶來流動性壓力,相信最壞情況下,在2023年上半年所有公司達成「三條紅線」的情況下,將會削減18萬億元人民幣債務,意味在2022及23年,除物業銷售需達至15-16萬億元人民幣外,行業需要額外17萬億元人民幣之現金流入。 該行指,相信行業槓桿集中在上層企業,因應該部份企業在上升周期下增長較快,在大型發展商違約的情況下,將進一步推高系統性風險。 該行又指,目前投資者關心政府將如何管理去槓桿的過程。因應大型發展商違約風險增加,相信政府或將有信貸寬鬆的政策,如在購地貸款方面,但同時政府的目標是令房地產價格和房地產建築活動會溫和下降,降2022年物業價格預測至跌5%(原預測持平),預期行業在2021至23年盈利的年複合增長率將為9%。 高盛幾乎全線下調內房股目標價,並將碧桂園(02007.HK)評級由「買入」降至「沽售」;禹洲(01628.HK)評級由「中性」降至「沽售」;融創(01918.HK)評級由「買入」降至「中性」。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account