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《大行報告》高盛升綠城中國(03900.HK)評級至「買入」 目標價下調至16.7元
阿思達克 01-16 11:24
高盛發表研究報告指,2023年內地房地產行業前景略有改善,當中預期國企開發商將受惠最多,考慮到綠城中國(03900.HK)正在晉身一線內房,看好其未來發展,並將其評級由「中性」上調至「買入」。 該行料綠城去年純利按年升27%,對比同業平均錄得約29%跌幅,預期管理層執行力及盈利增長將推動市值提升,相信綠城有望在2025年前躋身中國房地產行業盈利排行榜前十名。 高盛又指,綠城去年預售已達到行業第八位,預計未來兩年經營將保持韌性,雖然仍未符合當局「三條紅線」的綠檔要求,但在母企中交建集團的支持及更多元化的融資渠道幫助下,公司持續改善債務結構,將公司2022至2024年每股盈測調整,由下調4%至上調2%不等,目標價下調至16.7元;高盛指其去年9月以來股價自高位累跌約30%,跑輸民營及國營內房,認爲以市盈率及市賬率計估值均接近歷史低端,認爲風險回報吸引。
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