《大行報告》瑞信下調中國金茂(00817.HK)目標價至3.2元 評級「跑贏大市」
瑞信發表報告指,中國金茂(00817.HK)去年核心利潤按年增長10%至42億元人民幣,基本符合該行預期。公司管理層的今年總合同銷售額目標是實現2,400億元人民幣(按年升2%),並在投地方面保持謹慎。
該行指,目前公司充足的土地儲備應能支持未來2至3年的銷售增長,意味着短期內收購土地的迫切性不大。
瑞信指,看好中國金茂充足的可售資源,以及國有企業的優勢,基於較低的利潤率假設,將中國金茂2022年至2023財年的盈利預測各下調8%至10%;將資產淨值估計下調8%,目標價由3.44元下調至爲3.2港元,維持「跑贏大市」評級。
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