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《 大行報告》大摩下調新地(00016.HK)目標價至128元 評級「增持」
阿思達克 02-28 10:11
摩根士丹利發表報告表示,新鴻基地產(00016.HK)截至去年12月底止中期基礎溢利為134億元,按年跌2%,每股中期息派1.25元,差過該行及市場預期,相信主因香港及內地之發展業務確認利潤下降,與樓盤延遲交付有關,該行預期新地下半財年交付速度將會恢復。該行表示,考慮到目前香港的困難時期,認為新地旗下香港業務租金收入按年增長3%是具韌性,新地更預計下半年度續租租金將錄正增長。該行稱下調新地2020財年至2022財年度盈利預測分別13%、8%及8%,各至10、11.2及11.3元,以反映預期其商場店舖租金優惠將導致下半年度的零售租金收入較上半年度下降20%、酒店業務將轉為虧損,而辦公室租金則持平等因素,因而目標價由132元降至128元,維持「增持」評級。
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