《大行報告》花旗下調粵投(00270.HK)目標價至13元 評級「買入」
花旗發表報告指,粵海投資(00270.HK)股價年初至今下跌了30%,主因在中國轉弱的房地產市場有業務,令估值重評。該行認為,有關重估屬過度,因集團今年首三季稅前利潤中只有35%來自房地產業務,且其項目大多位於廣州及深圳等一線城市。
花旗維持粵投股份「買入」評級,但目標價由16.5元降至13元,以反映房地產業務的資產淨值折讓擴大至70%。不過,該行認為集團的每股派息料可繼續上升,目前6.3%的今年股息收益率是有吸引力。
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