《大行報告》摩通:民企內房股可能續跑贏國企內房股
摩根大通發表研究報告指出,內房板塊自10月下旬觸底以來已反彈58%,主要受惠於重新開放的預期,以及一系列政策寬鬆措施。該行預期當局未來數月將釋放更多包括疫情及房地產相關的寬鬆措施,相信內房股短期強勢持續,儘管房地產銷售情況仍未穩健。而近期物管股配售情況表明發展商的流動性依然緊張。
該行認為,在採取多項流動性寬鬆措施後,下一個關注重點在於更多的需求側刺激,或將於本周召開的中央經濟會議中披露更多細節。相信民企內房股特別是非困境企業如龍湖(00960.HK)、新城發展(01030.HK)、碧桂園(02007.HK)、碧桂園服務(06098.HK)及新城悅服務(01755.HK)等,可能持續跑贏國企內房股。對於偏好低風險房企的投資者,國企股如中海外(00688.HK)、華潤置地(01109.HK)、保利物業(06049.HK)和中海控股(02669.HK)料仍有15%至20%的上升空間。
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