中金:首予領展(0823.HK)“跑贏行業”評級 目標價96港元
中金髮表報告表示,首予領展(0823.HK)“
跑贏行業
”
評級,目標價96港元。該行認為,領展目前面對的收入及資產價值增長壓力屬階段性,以長線投資角度而言,現時更是吸納良機。
該行解釋,領展業務以社區零售為主,尤其是必需品消費為重心,在零售行業下行週期中具備防守性,預計該公司未來五至十年收入及資產價值均錄高單位數增長,目前估值相當於長期投資年化總收益率有望逾10%。因此中金預計,領展2019至2021財年收入之年複合增長率為7%,以及每基金單位派息增長率為7.4%。
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.