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《大行報告》大華繼顯降貝殼-W(02423.HK)目標價至39元 評級「買入」
阿思達克 03-13 16:24
大華繼顯發表報告,指貝殼-W(02423.HK)將於明日(14日)公布去年末季業績。該行料其季績穩固,收入料按年增15%至192億元人民幣;即使在家居裝修板塊投資延長,報告仍料其季度Non-GAAP純利按年升8%至17億元人民幣;意味末季Non-GAAP淨利潤率料按年收縮0.6個百分點至8.7%。由於內地房地產市場仍低迷,該行料今年上半年公司展望繼續受壓,H股目標價由58元降至39元,評級維持「買入」。 考慮去年同期高基數及本年至今新房銷售疲弱,該行降貝殼今年首季總收入預測5%,料首季收入按年倒退15%。該行並降貝殼今年首季及全年經調整純利預測分別2%及5.5%,以反映在家居裝修板塊持續投資。
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