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《大行報告》摩通料九倉置業(01997.HK)削中期息27%屬行業最多 指市場已反映最壞情境
阿思達克 07-23 11:24
摩根大通發表報告表示,料於7月30日公布中期業績的九龍倉置業(01997.HK),將會成削減派息幅度最大的本地地產股,因預期公司營運環境轉趨困難。不過,即使旗下零售商場海港城估值遭到下調,該行指市場已迅速在股價反映最壞情境預測,一旦來港旅客情況並非太壞,或會對九龍倉置業股價構成上升的風險。

該行指,雖然新冠疫情近期在本港蔓延,但不建議投資者在現水平對九龍倉置業進行沽空,維持對九龍倉置業「中性」評級及目標價36.9元。基於料本港住宅樓相對穩固,該行在本港地產股中喜愛發展商,新地(00016.HK)、新世界發展(00017.HK)及嘉里建設(00683.HK)屬該行的行業首選股。

摩通估計九龍倉置業上半年純利將按年倒退28%、料派息下滑27%,料派息比率為65%。

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