《大行報告》德銀下調龍光集團(03380.HK)目標價至10.2元 評級「買入」
德銀發表研究報告指出,龍光集團(03380.HK)早前披露的配股及發債,可紓緩公司流動性壓力。由於公司在2021年下半年並無補充土地儲備,估計其2022年的增長僅按年持平,而隨著債券市場准入重新開放,相信公司於2022年上半年將恢復收購土地或轉換城市更新項目,為2022財年後恢復增長鋪路。
該行調整了對龍光集團的收入及銷售預測,並指大灣區房地產市場的下行周期因素,將公司預期將於2022年推出銷售的香港鴨(月利)洲項目之潛在確認收益所抵銷,該行對其盈利預測保持不變,另相信公司估值或已見底,目標價由11元下調至10.2元,維持「買入」評級。
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