《大行報告》中金降潤地(01109.HK)2023/24年盈測 維持「跑贏行業」評級
中金發表報告指,基於資源、模式、公司治理等全方位優勢,華潤置地(01109.HK)能在現階段從容應對外部逆風落於預期之內。然而該行認為華潤投資價值的內核,是具備在傳統開發行業長期式微時破繭成蝶的可能,這是值得投資者長期選擇的主要理由。
中金指,基於實體市場疲弱的階段性壓制,下調潤地2023和2024年盈利預測各6%和9%至274和281億元人民幣,引入2025年盈利預測293億元人民幣。維持「跑贏行業」評級,給以目標價43.5港元。公司交易於5.1倍2024年市盈率。即便不考慮模式疊代所對應的估值重塑,公司現已被顯著低估。
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