野村:升新城(01030.HK)評級至“買入” 目標價上調至10.35港元
野村預期,新城發展(01030.HK)將很很快恢復收購大型項目,相信為穩定與資金方、合作夥伴及地方政府之間關係的正面訊號,恢復投資者信心,或引發估值重評,遂評級由“中性”升至“買入”,目標價從7.5港元上調至10.35港元。
該行指,新城管理層反映一些銀行已將其從觀察名單中剔除,並恢復融資。此外,有數個地方政府亦已恢復與新城的合作討論,新一個股權激勵計劃顯示公司2020至2021財年的盈利複合增長率目標為35%。
加上至2021財年,新城將有120個購物中心投入運營,屆時租金收入有可能達到100億元人民幣以上,租賃業務利潤佔總利潤約15%至20%,佔比為該行研究的內房中最高,認為該公司將「灰燼重生」。

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