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《大行报告》美银证券料本港楼价今年跌15%至20% 削地产股目标价一成
阿思达克 04-07 12:26
美银证券表示,基於全球经济增长前景转弱,料本港主要住宅楼价今年将下滑15%至20%,写字楼租金将跌10至20%,料零售租金下跌5%至20%,并估计本港发展物业的毛利率会由今年36%,回落至2022年27%。该行估计本港零售业会面临4至5个月衰退。

该行决定下调本港地产股目标价10%,降每股资产净值预测4%,调低本港地产股於2020年至2022年每股盈利预测4%。长实集团(01113.HK)目标价由61元降至53元、新地(00016.HK)目标价由134元降至126元、领展(00823.HK)目标价由87元降至78元。

美银证券指,本港地产股具巩固杠杆组合,但若今年下行趋势持续,关注恒地(00012.HK)、新世界发展(00017.HK)及嘉里建设(00683.HK)派息情况。该行估计本港今明两年GDP将按年分别跌4%及升1.9%。

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