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摩通:首予融創中國(1918.HK)“買入”評級 目標價49港元
格隆匯 11-05 17:15

摩根大通發表報告指,融創中國(1918.HK)受惠於在內地一、二線城市的佈局及發展策略,其增長潛力將超過佈局低線城市的房企,加上預期未來將有更多併購機會,料可支持其銷售規模增加,因此首予公司“買入”評級,目標價49港元,並列公司為行業首選股之一。

摩通認為,現時中國房地產行業融資環境趨緊,在市場不斷整合的背景下,融創在土地併購方面具有競爭優勢,有利可獲取優質土地儲備,料可支持未來4至5年發展需要。

摩通續指,融創未來銷售增長規模增速料會趨於温和,加上投資買地步伐有所減緩,均有助公司淨負債率持續下降,考慮到公司經常性收入增加及派息逐漸提升,認為融創估值提升空間仍然較大。

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