首页 - 股票 - 研报 - 公司研究 - 正文

Hangzhou Binjiang Real Estate Group Co:Earnings estimates update post FY2011 results

关注证券之星官方微博:

Changes and Implications。

Binjiang reported FY11 full year results on March 31, 2012, flat with ourand WIND estimates. We correspondingly update our 2012E-2014E EPS by2%/-2%/-3% to Rmb0.88/Rmb0.91/Rmb0.94, respectively, by factoringlower revenue booked in 2011 and lower-than-expected contract sales. Wedo not view these changes as material, and there is no change to ourinvestment thesis or rating on the stock.

Valuation。

We trim our 12-month target price by 2% to Rmb9.42 from Rmb9.63, stillbased on 40% discount to end-2012E NAV, and we retain our Neutral.

Upside risks: Better-than-expected contract sales driven by stronger-thanexpectedpolicy easing. Downside risks: worse-than-expected pre-salesdriven by further tightening.





微信
扫描二维码
关注
证券之星微信
APP下载
相关股票:
好投资评级:
好价格评级:
证券之星估值分析提示滨江集团盈利能力一般,未来营收成长性良好。综合基本面各维度看,股价偏低。 更多>>
下载证券之星
郑重声明:以上内容与证券之星立场无关。证券之星发布此内容的目的在于传播更多信息,证券之星对其观点、判断保持中立,不保证该内容(包括但不限于文字、数据及图表)全部或者部分内容的准确性、真实性、完整性、有效性、及时性、原创性等。相关内容不对各位读者构成任何投资建议,据此操作,风险自担。股市有风险,投资需谨慎。如对该内容存在异议,或发现违法及不良信息,请发送邮件至jubao@stockstar.com,我们将安排核实处理。
网站导航 | 公司简介 | 法律声明 | 诚聘英才 | 征稿启事 | 联系我们 | 广告服务 | 举报专区
欢迎访问证券之星!请点此与我们联系 版权所有: Copyright © 1996-