20150612-JEFFERIES-融创中国(1918):MORE_TO_GET_SETTLED_BEFORE_COMING_BACK_ON_TRACK;MAINTAIN_HOLD-207814

$融创中国(hk01918)$  
The increase in the equity interest for some JV projects with Greentown will enhance its NAV and earnings.However,risen gearing and the distortion of its land acquisition plan due to the association with Kaisa will cap its share performance.As a high beta play,Sunac stock movement will continue to be volatile.Subject to a fair valuation at 6.4x FY15E PE and 34% NAV disc,we maintain our Hold rating.
查看PDF
格隆汇声明:文中观点均来自原作者,不代表格隆汇观点及立场。特别提醒,投资决策需建立在独立思考之上,本文内容仅供参考,不作为实际操作建议,交易风险自担。

相关股票

相关阅读

评论