高盛维持冠君(2778.HK)“沽售”评级目标价6港元
高盛发表报告称,虽然冠君产业信托(02778.HK)上半年业绩合乎预期,但未来在写字楼及零售业务仍然会面临挑战,现市价相对估值较高,等同2020年市盈率21倍,同业平均为14倍。该行对维持其目标价6港元,维持“沽售”评级。

该行指出,公司办公室租金在第二季偏软,加上供应及需求波动,空置率有机会上升,令2020年预期的租金增长增加压力,而由于花园道三号在今明两年有较多租约到期,相信公司面临更多定价风险。鉴于朗豪坊商场营业额租金占组金比例相对较高,占上半年商场总收入的20%,相信短期内虽然租金无下跌风险,但会对收入造成影响。
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