《大行报告》里昂降嘉里(00683.HK)评级至「跑输大市」目标价下调至30元
里昂以「顺境变逆境」为题发表报告,指现时楼价转向、息差收窄及派息风险提升,对嘉里(00683.HK)造成不利影响。该行认为,嘉里於本地发展商中最受楼价影响,股价与楼价走向关连性甚高,於楼价下行期间将受到影响,降其评级自「买入」降至「跑输大市」,基於人民币贬值及本港租金升幅放缓,降2019年至2021年盈测0.5%至1.3%,目标价相应自37元下调至30元。
该行指嘉里上半年表现符预期,惟管理层对下半年抱审慎态度,主要由於中美贸易纠纷及本港社会问题带来不确定因素,未有加中期派息。
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