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美银美林看好地产股多于收租股上调港铁(0066.HK)目标价至59港元
格隆汇 07-25 11:42

美银美林发表研究报告,继续看好地产股多于收租股,因为收租股受到的影响会更显着。

该行提到,最近的香港示威及冲突活动令零售租户的销售表现受到损害,估计部分商场的销售额按月跌10%,对未来数月的访港旅客影响将持续存在。其渠道调查亦显示,街铺的租赁已有所停滞。最近有部分冲突更是在新界区发生,而恒隆地产(00101.HK)、领展(00823.HK)及新地(00016.HK)在新界区的商场有较大的覆盖,虽然恒隆及新地的零售业务占比相对较小。为了反映零售销售及租赁前景的不明朗,该行将九龙仓置业(01997.HK)及希慎兴业(00014.HK)的目标价分别下调7%及9%。

美银美林表示指,其防守性选择为港铁(00066.HK),将其目标价上调11%至59港元。在地产股中,看好更具防守性的股份,例如长实地产(01113.HK)及恒基地产(00012.HK)。在收租股中,偏好恒隆地产及置富产业信托(00778.HK) 。

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