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《大行報告》匯豐研究降碧桂園(02007.HK)及碧服(06098.HK)評級至「持有」 削目標價
匯豐研究發表研報指,市傳碧桂園(02007.HK)日前未能支付兩筆已到期美元債利息,潛在違約風險增加,引發投資者擔憂及拋售。 但該行指出,碧桂園兩筆債券的利息均有30天支付寬限期,預測若集團下半年銷售額按年下跌40%以上,則將面對龐大流動性壓力,將碧桂園評級進一步降至「持有」,目標價從2.9元降至1.1元。同系碧桂園服務(06098.HK)的評亦從「買入」下調至「持有」,目標價則從19.9元下調至7.5元。 匯豐研究解釋,未有將評級一舉降至「減持」,是考慮到即使集團信貸狀況不斷惡化,但同時亦不能低估當局即將出台的樓市支持政策,可能扭轉市場風險偏好,並帶動內房股股價回升。
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