瑞銀:下調港鐵(0066.HK)目標價至47.7港元 評級“中性”
瑞銀髮表研究報告指出,港鐵(00066.HK)發盈警,因香港社會事件持續,集團香港客運業務、香港車站商務以及香港物業租賃業務受到不利影響,預期未計及12月影響,乘客量下跌、設施損毀、人手增加和保安水平提升,以及為商户提供租金優惠和寬減等,將對截至今年12月底止全年度香港經常性業務的淨利潤帶來負面財務影響約16億元。
該行指,管理層趨向維持穩步上升的派息政策,但相信因基本盈利下跌,令利息增長呈低單位數,該行下調2019-21年盈利預測11%、6%及6%,料2019年度盈利跌8%,但當中未計及沙中線和英國西南鐵路增加撥備24億元,同時預期社會事件會繼續影響明年首季表現。
該行將港鐵目標價由48.7港元降至47.7港元,反映盈利預測被調低,評級“中性”。

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