发帖
雷达卡
【出版时间及名称】：JPM-THAI PROPERTY-FROM EASE TO SQUEEZE-100310
【作者】：jpmorgan
【文件格式】：pdf
【页数】：44
【目录或简介】：
Investment summary................................................................3
P/E expansion unlikely ................................................................................................3
LH is our only OW stock.............................................................................................4
Downgrade LPN to Neutral .........................................................................................5
Maintain Neutral rating on AP and QH .......................................................................6
Macro outlook: a mixed bag ....................................................8
Housing demand looks to improve ..............................................................................8
But profit margin outlook not so encouraging ...........................................................11
Moving to integrated players.................................................15
SDH to offer growth................................................................17
Earnings outlook ....................................................................19
Companies..............................................................................23
Asian Property Development .....................................................................................24
Land & Houses ..........................................................................................................25
LPN Development .....................................................................................................26
Quality Houses...........................................................................................................27
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