《大行報告》花旗上調新城發展(01030.HK)目標價至4.75元 評級「買入」
花旗發表研究報告指出,新城發展(01030.HK)為領先民營內房股,受惠於近期政策,對公司展開30日的正面催化觀察,理由包括再融資順利;通過配售H股籌集20億元,及受惠中證監對A股股權再融資的支持;房地產信託基金試點擴張後,對提升商場資產價值有利;租金收入料隨著明年內地重新開放而有所增長,支持毛利率。
該行預期,新城發展今年銷售約1,180億元人民幣,明年則約1,000億元人民幣,毛利率約15至18%。鑑於其估值吸引,重申「買入」評級,目標價由3.8元上調至4.75元。
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