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研報掘金丨招商證券:濱江集團三條紅線保持綠檔,維持“強烈推薦”評級

招商證券研報指出,濱江集團(002244.SZ)上半年地產結算體量下降和税後毛利率下滑成為拖累業績主要因素。銷售方面,銷售目標完成率58%,銷售排名提升;拿地方面,投資力度仍保持行業前列;貨幣資金充裕,三條紅線保持綠檔,已經完成年內平均融資成本下降的目標。預計2024-2026年EPS分別0.93、1.05、1.07元,維持“強烈推薦”評級,考慮到未來行業競爭格局改善的長邏輯或抬升優質綠檔房企估值溢價,且供給端邏輯有望主導新房市場,公司產品能力在行業中較強,給予目標價10.2元/股(對應2024PE=11X)。

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