《大行報告》野村降貝殼(BEKE.US)目標價至22.3美元 業績穩固
野村發表報告指出,貝殼(02423.HK)(BEKE.US)去年第四季業績穩固,錄得收入按年增長21%至200億元人民幣,高於市場預期的188億元人民幣。所有主要細分市場存量房業務、新房業務以及家裝家居於季內均表現穩健,三個業務的交易額分別按年增長30%、跌10%(相對於整體房地產市場按年跌30%)及增長1倍。
該行認爲,貝殼上季盈利能力穩健,毛利率按年增長1.1個百分點至25.5%。但公司經營虧損1.73億元人民幣,相對於2022年同期錄得經營溢利3.87億元人民幣,主要由於臨時信用損失撥備的一次性費用及績效激勵。然而,公司經調整淨利潤按年增長11%至17億元人民幣,高過市場預期的15.7億元人民幣。
該行將貝殼目標價由25.8美元降至22.3美元,重申對其「買入」評級,認爲二手市場銷售復甦利好公司,惟估計今年首季盈利將面臨高基數的不利因素。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.