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《大行報告》瑞銀升萬科(02202.HK)評級至「中性」 目標價下調至11元
阿思達克 06-30 09:50
瑞銀發表報告指,將萬科(02202.HK)評級由「沽售」升至「中性」,目標價則由12元下調至11元。股價在今年以來跌幅超過30%後,該行認為目前股價已經反映在下調該股評級時的負面看法,即今年賬面利潤率下降,以及由於去年土地收購不足,今年合同銷售增長低過同行。 不過,瑞銀指,萬科今年以來加快土地收購,首五個月的土地收購總值按年增長51%,而土地收購與合同銷售比率按年增長5個百分點至27%,預期明年合同銷售將比同行增長更快。因此將今年至後年收入預測提高17至31%,以考慮到合同銷售的潛在反彈。
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