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大行評級 | 花旗:料潤地購華夏幸福四項目有利銷售 為行業首選股
格隆匯12月29日丨花旗發研報指,華潤置地(1109.HK)收購華夏幸福的四個項目將鞏固其2023年的銷售前景,帶來約4%的利潤增長,並鞏固其在二線城市的地位,在行業中首選華潤置地,維持目標價46.1港元。該行表示,假設未來資本支出為160億至170億元人民幣,交易預計將帶來210億元人民幣的新資源,2024-2026年住宅項目淨利潤率將在約10%,利潤增長在約4%,預計公司2023年將保持3%的出色銷售增長,料市場有率增長約2.8%,充足的土地收購明年將為資源增添動力,並料2023年租金利潤佔淨利潤的比重預計將升至18%,這將推動估值溢價。該股現報33.9港元,總市值2417億港元。

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