一文綜合券商於新世界(00017.HK)公布業績後最新觀點、評級及目標價
新世界發展(00017.HK)今早股價偏淡,券商普遍指公司公布中期業績符預期,但高盛關注其負債水平上升。該公司上周五(28日)公布截至去年12月底止中期業績,營業額324.64億元,按年跌34.1%。純利10.17億元,按年跌91%;每股盈利0.1元,維持派中期息0.14元。公司中期基本溢利為39.29億元,按年跌27%,主要要由於香港物業發展沒有新項目竣工,每股核心溢利為0.38元。公司中期旗下香港及中國內地總租金收入分別升36%及6%;非核心資產出售進度理想,總金額合共約60億元,集團會繼續出售非核心資產,以釋放資產價值並優化資產組合。集團財務穩健,於本期末,現金及銀行存款約636億港元,可動用的銀行貸款約310億港元,資源合共約946億港元。【疫情消除後 憧中港銷售】匯豐環球研究發表研究報告指,新世界發展基本溢利按年跌27%,主要是缺乏大型香港物業銷售入賬,料新增確診新型冠狀病毒肺炎肆虐或阻礙其收益增長,但其戰略增長計劃保持不變下,維持其「買入」投資評級,目標價由12.8元輕微下調至12.7元,予其估值相當較每股資產淨值折讓42%。高盛指,新世界淨負債比率升10個百分點至42%,主要是透過新創建(00659.HK)收購富通保險等項目,關注其未來合約銷售表現。花旗表示,新世界發展中期基本溢利相當該行對其全年預測44%,大致符合預期,相信新世界發展旗下香港及內地土地儲備已達到收成階段,從2020年發展計劃上看,其大圍站項目將推出3,090單位,這將成為更高合同銷售的有力催化劑。在大灣區豐富的可售資源的支持下,其中國銷售額目標今年也有望達200億元人民幣。該行維持新世界發展「買入」投資評級,目標價由14.3元下調至13.9元,維持為行業首選股。本網最新綜合6間券商對其投資評級及目標價:券商│投資評級│目標價(港元)花旗│買入│14.3->13.9元海通國際│買入│16.34->12.83元摩根大通│增持│12.8元匯豐環球研究│買入│12.8->12.7元瑞銀│買入│11.8元高盛│中性│11.6元-------------------券商│觀點花旗│料可受惠中港市場合同銷售,維持為首選股海通國際│未來2-3年內每年15億至20億元合同銷售目標顯示對前景有信心摩根大通│資產負債率改善,財務穩健支持派息匯豐環球研究│肺炎疫情或阻收益增長,戰略增長計劃保持不變瑞銀│中期業績符預期兼派息維持高盛│住宅需求仍然強勁,料2020年全年基本溢利按年跌9%(ta/w)~
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