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《大行》大摩一舉降綠城中國(03900.HK)評級至「減持」 削目標價至8.55元
阿思達克 08-27 14:56
摩根士丹利發表研究報告指,雖然綠城中國(03900.HK)正在採取更平衡的方法來降低其土地儲備風險,但這可能會減緩其明年房地產銷售增長,並因毛利率表現低於預期而拖累盈利復甦。該行認為公司的估值過於昂貴,將評級由「增持」一舉下調至「減持」,目標價由11.62元降至8.55元。 大摩相信,綠城中國需要比預期更長的時間才能將盈利恢復至2022年下滑前的水平。該行將集團2025至27年的盈測分別下調15%、35%及22%,以反映房地產銷售疲弱及利潤率復甦放緩。
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