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《大行報告》匯豐研究降龍湖(00960.HK)目標價至13.6元 評級「買入」
阿思達克 03-25 10:59
匯豐研究發表報告指,龍湖(00960.HK)去年盈利低迷,符合其公布的盈利警告。由於去年的入賬收入和毛利率下降,集團的核心利潤按年減少50%。期內,股息減少51%,但派付比率維持在30%的穩定水平。管理層指引未來幾年的派息率將維持在30%。 該行預計,集團的投資物業和物業服務收入將持續增長,料有助抵銷部分合約銷售和入賬收入預訂疲弱的影響。該行認為,龍湖去年的業績將投資者的預期重新調整至較低水平,目前應該已被完全反映,維持其「買入」評級,目標價由14.4元下調至13.6元。
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