《大行報告》野村削龍湖(00960.HK)目標價至18.1元 仍能度過行業低迷時期
野村發表報告指,龍湖集團(00960.HK)2023財年盈利將顯著惡化,並或多或少已反映在股價上。該行認為,受2022至2023年房地產銷售持續下滑,以及毛利率惡化和撥備成本增加的影響,龍湖2023財年核心盈利可能按年下降47%至119億元人民幣。目標價由34.7元大削至18.1元。
該行認為,龍湖仍能度過行業低迷時期,其2023財年的盈利疲軟應該不會令市場意外,因為行業下行趨勢已持續兩年半,而且私營開發商被大幅擠出市場。該行預測龍湖將在2024財年純利按年持平,並在2025財年錄得按年5%的溫和盈利復甦。而龍湖的資產負債表風險仍然是私營開發商中最低的。
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