《大行報告》大摩下調中國金茂(00817.HK)目標價至2.14元 評級「增持」
摩根士丹利發表報告指,考慮到中國金茂(00817.HK)今年可售資源逾2,500億元人民幣,其中約85%位於一、二線城市,故相信其良好銷量勢頭或於未來數月持續,以支撐全年1,730億元人民幣的合約銷量。
該行預料,中國金茂今年將實現合同銷售增長12%,主要是擁有充足的高端土地儲備為後盾,即使公司今年毛利率或小幅下跌,但認為近期的銷售利潤率或會支持公司在2024年至25年的毛利率復甦。
該行表示,基於土地成本較高,即使今年毛利率或會略微下跌,但相信其毛利率於明年開始復甦;該行表示,將公司今年及明年的盈利預測下調至各41億元人民幣,並將其目標價由2.4元下調至2.14元,維持其評級為「增持」。
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