《業績之後》一文了解券商對恆隆地產(00101.HK)最新目標價及觀點
恆隆地產(00101.HK)今早股價靠穩，該公司昨(21日)午公布截至去年12月底止全年業績，錄營業額88.52億元按年跌5.9%，營業溢利減少5%至64.87億元，純利61.72億元按年跌23.6%；每股盈利1.37元。派每股末期息0.59元，上年同期派0.58元。
在扣除物業重估收益和其相關所得稅及非控股權益的影響後，股東應佔基本純利增加9%至44.74億元。每股基本盈利0.99元。期內，核心物業租賃業務收入按年增加5%至85.56億元，其中有53%來自內地業務。物業銷售收入下跌76%至2.96億元。物業銷售的邊際利潤率為55%。公司指，將按市況繼續減持香港的住宅單位，並透過出售非核心物業，積極從資產組合體現更高價值。
【派息有驚喜 內地租務強】
多間券商表示，恆隆地產增加派息有驚喜，顯示其對業務發展有信心。美銀證券表示，儘管武漢肺炎暴發對武漢購物中心預租或產生一定影響(預期於今年夏季開業)，目前承諾出租率為60%。不過，位於無錫恆隆66號中心整合奢侈品牌令租賃收入增長或於今年加快，集團位於大連商場租賃收入預期未來3-4年具增長潛力，還有濟南資產整合等，因此，維持其「買入」評級，目標價20.8元。麥格理輕微下調恆隆地產目標價至23.42元，以反映本港物業銷售進程，但看好集團在內地業務前景，重申「跑贏大市」評級。
本網最新綜合8間券商對其投資評級及目標價：
券商│投資評級│目標價(港元)
海通國際│買入│27元-26.5元
大和│買入│26.4元
麥格理│跑贏大市│23.96元-23.42元
摩通大通│增持│23.1元
瑞銀│買入│21.8元
花旗│買入│21.1元
美銀證券│買入│20.8元
摩根士丹利│增持│20元
-----------------------券商│觀點
海通國際│全部盈利潛力尚未充分釋放
大和│內地商場業績強勢及增派息有驚喜
麥格理│內地二線城市消費強勁，看好高端零售業
摩通大通│去年度基本純利符預期及增派息令人驚喜
瑞銀│去年度基本純利符預期及增派息有驚喜
花旗│全年度基本盈利勝預期及增派息有驚喜
美銀美林│憧憬內地商場租金上升及增派息有驚喜
摩根士丹利│全年度基本盈利及派息符預期
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