You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
瑞银升港铁(0066.HK)目标价至49.2港元评级“中性”
格隆汇 08-12 13:24

瑞银发表的研究报告指,港铁(00066.HK)上半年基本盈利为34亿元,按年下跌26%,主要因为沙中线需拨备20亿元,而英国铁路方面亦需作出4.36亿元拨备,撇除相关因素纯利按年增长26%,主要受惠物业开发贡献增加等,以及广深港高速铁路全面投入服务等,派中期息每股0.25元按年持平。该行将公司2019年盈利预测下调18%以反映拨备带来的影响,目标价由48.7港元升至49.2港元,评级“中性”

该行估计撇除拨备及高铁贡献,来自可持续业务的EBIT按年增长5-6%,物业租赁收入按年升5%,主要受惠续租租金提升及圆方的营业额租金分成带动,而来自海外营运的EBITDA则按年增长64%,主要因为去年基数较低。

瑞银指出针对香港近期出现的示威,假如情况持续将影响香港市场的多项营运,当中包括下半年的赞助、车站商户续租租金以及广告需求,该行估计商场的租金收入将大致稳定,因为港铁租金收入中大部分均来自底租,而下半年相信日出康城项目「Malibu」及商场「The LOHAS康城」将入帐,有助带动下半年盈利增长,另外港铁亦计划在未来半年考虑到市场情况为黄竹坑站第四期及康城项目招标。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account