《大行報告》花旗下調長實集團(01113.HK)目標價至63.5元評級「中性」
花旗發表研究報告,指長實集團(01113.HK)上半年核心盈利140億元,按年升16.4%,佔該行對公司2019年度盈利估算的50%。該行認為表現勝預期,是因為金融工具錄得18億元收益,及其他財務收入按年增長6倍至13億元所致。核心業務的表現大致符合該行預期。公司宣布派發中期息每股0.52元,按年增加10.6%,是一項正面的驚喜。
截至2019年6月,公司未入帳銷售額錄535億元,當中400億元預料將於下半年入帳,因此2019財年的盈利已確定。根據目前的交付時間表,長實集團預期會在今年下年將「愛炫美」及「維港頌」入帳。但由於上半年的合同銷售表現疲弱,因此2020年的核心盈利可能會錄得按年下跌。
在今年下半年,公司料會在港推出三個項目,包括「愛海頌」、「日出康城8期」及「波老道21號」。該行維持長實集團「中性」投資評級,目標價由原來的65.9元下調至63.5元,較資產淨值折讓維持在50%。
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