《大行报告》大和升港铁(00066.HK)评级至「买入」 目标价维持49.2元
大和发表的研究报告,认为物业销售盈利应可保护港铁(00066.HK)免受疫情影响,惟公司的零售租赁及交通业务将受疫情影响,零售物业价值重估亦会对报告利润构成重击,估计公司基本盈利仍会按年升64.2%至56亿元,当中有52亿元是来自物业销售。
该行指出公司是将军澳区转型的主要受惠者,因为当区在2000年主要是上车盘,而现时开始转化为中产及专业人士的地区,而单位平均尺价亦由2000年初的4000元升至逾1.5万元。作为该区最大的住宅地拥有者,公司受惠区内转型。更重要的是港铁有独特的商业模式,有助锁定盈利不受香港楼价调整影响,相信物业销售的盈利有助在逆境下为公司提供缓冲。
该行认为公司在港企中较突出,因为自2006年起开始渐进派息政策,并在过去十三年持续,将公司评级由「跑赢大市」升至「买入」,重申目标价49.2元。
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