金吾财讯 | 汇丰研究发表报告指，团队早前预计内房9月销售同比持平属过度乐观。自7月以来，内地的房地产销售、新屋动工、完工或房价均没有改善。汇丰研究更新预测，除非有意外的政策刺激及大幅加强执行现有政策，否则全国销售在明年之前不会有实际复苏。
汇丰研究表示，在内房行业持续面对不利因素的情况下，看好物业管理公司华润万象生活(01209)及绿城服务(02869)，均予“买入”评级，因为它们的增长前景及派息较为稳定。在发展商中，该行偏好获华润置地(01109)和龙湖集团(00960)(予“增持”评级及目标价15港元)，因具优良执行力、更具适应性的承租组合将帮助其在消费降级中表现出色。该行亦看好物业代理公司贝壳找房(BEKE)的财务稳健及收入来源多元化。该行认为，华润置地被过度抛售，其估值较同业的大部分溢价已经消失。该行认为，集团的物业发展下行风险仍然存在，但即使计入其物业发展大幅恶化的因素，该公司的估值仍不合理，因为其物业发展拥有稳健的经常性收入及可观的优质投资物业组合。该行维持华润置地“买入”评级及目标价29.6港元。
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