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《大行報告》美銀證券普遍下調地產及收租股目標價 九倉(00004.HK)評級降至「中性」
阿思達克 04-29 10:35
美銀證券發表的研究報告指,隨著香港新型冠狀病毒疫情受控,相信香港地產將較區內同業更快復甦,相信針對本地人的零售業將成主要受益者,但該行認為政治方面的風險有機會重現,或令地產股復甦受壓。考慮到價值股很多,而投資者在衰退下傾向選擇增長股或有更多確定性及催化劑的股份。該行將恆基地產(00012.HK)及九龍倉集團(00004.HK)評級降至「中性」,認為估值上並不吸引,而恆地的增長可見性亦較低,九倉則因為主要針對高端地產故仍受壓。該行首選為新鴻基地產(00016.HK)、領展房產基金(00823.HK)及恆隆地產(00101.HK),認為新地的產品組合均衡,在住宅市場亦具領導地位。

該行指出,新聞報道指香港或於5月放寬社交距離措施,假設無社會不穩的情況下,估計香港地產股將繼續跑贏國際同業,並估計零售銷售將較快復甦,特別是針對本地人消費的商場,但相信不能完全回到疫情前的水平。該行相信訪港旅客將需要較長時間恢復,但高端零售的收租股相信仍會受惠相關正面消息。(el/u) ~

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