《大行報告》德銀下調龍光集團(03380.HK)評級至「持有」 削目標價至3.5元
德銀髮表研究報告,將龍光集團(03380.HK)估值基礎由市盈率改爲市賬率,因爲其現金流仍然緊張且盈利預測不穩定,將龍光集團目標價由10.2元削至3.5元,評級由「買入」下調至「持有」。
德銀指,擔心龍光集團2021年資產負債表可能沒有反映和披露的潛在隱藏負債,考慮到內地樓市觸底在望,隨着房地產市場變得寬鬆,龍光可以在很大程度上安排今年上半年到期的債務的到期延期或展期;其具備優質土地儲備,因此有可能成功出售資產,認爲股價已部分反映到這些預期,不過延遲公佈經審計賬目都會帶來風險。
德銀建議,對於投資於房地產復甦主題的小型內房股,並更傾向於中駿集團控股(01966.HK)而非龍光。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.