《大行报告》高盛下调长和(00001.HK)目标价至104元惟指其现估值已近反映最坏情况
高盛发表报告指,由於中美贸易战及英国脱欧等宏观忧虑,长和股价在过去三个月回调了11%,对比同期恒指为下跌7%,而集团目前估值已回到2015年重组时之五年低位。
该行参考早前的市场下行周期,并对美中贸易紧张局势和英国潜在硬脱欧等情景进行分析,分析显示长和的盈利下跌相当有限,仅为11%,而且按目前股价计,估值仍接近熊市情境下的低位。以资产净值113元折让40%计,熊市情境目标价68元,现价亦只有8%下行空间。
高盛下调对长和股份目标价,由115元降至104元,有40%上升空间,评级「确信买入」。
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