《大行報告》瑞銀降融創(01918.HK)評級至「中性」 目標價下調至5.2元
瑞銀髮表報告指,整個內房行業壓力影響銷售額和現金流,融創(01918.HK)2月合同銷售額按年跌42%,集團大量債券在未來九個月內到期,據《彭博社》報道,公司已提議延長境內債券期限至今年4月1日。
該行指,基於預期集團合同銷售額下降(2022/23年下調20%),及較低的利潤率,因此下調其2021至23年每股盈測27至52%,將評級由「買入」下調至「中性」,目標價由18.5元大幅下調至5.2元,相當於其今年0.15倍市盈率,以反映公司目前和開發商均承受資產負債表壓力。(ca/k)
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