《大行報告》摩通:武漢市放寬限購令 料未來有更多內地一二線城市仿效
摩根大通發表報告指,上周內房行業回調8%,是由於整體市場有獲利行動、缺乏額外的強力寬鬆政策、盈警潮預期或會暫時打壓市場情緒。如果短期內沒有強而有力的催化劑,該行認為內房或會在短時間內保持疲弱。然而,臨近3月,當市場預期3月初「兩會」後有更強勁寬鬆政策,銷售情況有改善證據時,行業可能會出現復甦。
該行目前建議吸納中海外(00688.HK)、華潤置地(01109.HK)、華潤萬象生活(01209.HK)、保利物業(06049.HK)和中海物業(02669.HK)等國企。如果僅以當前估值進行評估,該行認為中國海外和保利物業的上漲空間更大。對於較高beta交易(撈底),更看好碧桂園服務(06098.HK)和新城控股(01030.HK),儘管對於碧服,短期內市場可能需要一些時間來消化其可能弱於預期的2022財年盈利,而對於新城來說,由於其已經發布了盈警,盈利疲弱的預期可能已被消化。
另外,武漢市放寬限購令,這是為數不多在核心區放寬限購令的二線城市之一。此前,大多數限購令寬鬆政策只針對有多個小朋友的家庭或主要是在非核心地區實施。該行相信,未來會有更多內地一線及二線城市仿效。
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