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《大行報告》摩通料市場短期追逐低風險落後內房股 升萬科(02202.HK) 、碧桂園(02007.HK)、金茂(00817.HK)及綠城服務(02869.HK)評級至「增持」
摩根大通發表研究報告,認為在需求側政策更加寬鬆的情況下,內地房地產銷售情況改善,將推動內房股價於第二季出現定向回升,但同時或出現大幅波動。 該行表示,目前為止房企業績疲軟、停牌、銷售轉差、債券違約等大多數負面因素均已塵埃落定,指出雖然內房股過去一星期跑贏大市約10%,但事實上行業只恢復至去年第四季交易區間下半部分,以2021年10月市場高位計預期有15%至20%的上升空間。 摩通預期,物業管理公司現時市盈率為約17倍,較內房有更大上升空間,行業中長期首選仍然為華潤置地(01109.HK)、中國海外發展(00688.HK)、龍湖(00960.HK)及華潤萬象生活(01209.HK),短期追落後則包括萬科(02202.HK)、旭輝(00884.HK)、金茂(00817.HK)、碧桂園(02007.HK),以及碧桂園服務(06098.HK)、保利物業(06049.HK)、旭輝永升(01995.HK)及綠城服務(02869.HK)。 摩通將金茂、萬科、碧桂園的投資評級由「中性」上調至「增持」,並將綠城服務評級由「減持」升至「增持」。
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