瑞信:升粤投(0270.HK)目标价至14港元 评级“跑输大市”
瑞信发表报告指,粤海投资(0270.HK)
上半年纯利按年升1%至27亿港元,分部收益及税前盈利分别升11%及7%,大致符合该行预期,中期息升8%,略低过去年10%的升幅。该行相信粤投派息比率会增加,目前达70%已属中港公用股中最高之一,但整体股息增幅则有所减慢,由2017年的21%降至今年上半年的8%,以其股息率3.6%来计并不吸引,相对更稳定的香港公用股平均股息率达4.3%,以及部分中国公用股更达6.8%。
不过,基于粤投上半年较高的地产盈利表现,该行上调其2019至2021年盈利预测1%至2%,目标价相应由13.1港元升至14港元,但维持“
跑输大市
”评级。
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.