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《大行報告》富瑞降潤地(01109.HK)目標價至45.49元 受惠上海重新開放 評級「買入」
阿思達克 06-01 10:20
富瑞發表報告,維持列華潤置地(01109.HK)爲內房行業的首選,認爲疫情封鎖對銷售及租金的影響是暫時性,並且正在消退,預期不會損害公司的長期發展。 該行預期,華潤置地可成爲業務發展平衡及增長高於同行的主要市場整合者,並受惠於上海地區重新開放,相信表現將繼續跑贏大市。 富瑞指出,由於市場疲軟,華潤置地首五個月合約銷售按年下降36%,但對比主流開發商平均下降55%的幅度較小,認爲6月份的銷售底出現溫和改善,並預計在政策支持和更多新盤推出下,被壓抑的需求可獲得釋放。該行預期第三季起銷售增長將加速,保守地將全年銷售預測下調至2,900億元人民幣(按年跌8%),對應可售資源去化率爲55%。 該行認爲,華潤置地擁有優質的土地儲備、強勁的資產負債表及良好的資本支持,維持「買入」評級,將2022至2024財年的盈利預測調整1%至3%,下調目標價由46.2元降至45.49元。
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