《大行報告》花旗下調碧桂園、雅居樂及寶龍目標價 指內地樓市存挑戰
花旗發表研究報告指出,鑑於內地樓市整體充滿挑戰,該行下調雅居樂(03383.HK)、碧桂園(02007.HK)及寶龍(01238.HK)的目標價及預測。
雅居樂方面,該行指公司履行了債務義務並持續穩定營運,包括截至目前為止償付了所有公開市場到期債券;再融資取得進展,在今年4月及5月分別獲得兩項約76億港元及8,400萬美元的銀行融資;土地儲備變現方面,公司計劃處置50億至60億元人民幣的非核心資產;上半年新屋銷售均價回升至每平方米1.49萬元人民幣,按年增長16%。該行維持對其「中性」評級,目標價由1.5元下調至1.25元。
碧桂園方面,該行認為公司經營持續穩健,恢復投資,首五個月的買地成本達83億元人民幣,當中約一半位於一線及二線城市;再融資力度加大。該行維持對其「中性」評級,目標價由2.5元降至1.6元。
寶龍方面,該行指其上半年營運穩定,投資物業零售銷售良好,開發物業月度銷售額穩定在約30億元人民幣水平,平均售價按年增長3%。該行予其「中性」評級,目標價由1.3元下調至0.95元。
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