《大行報告》大和下調大悅城地產(00207.HK)目標價至0.8元 評級「買入」
大和發表研究報告指,大悅城地產(00207.HK)上半年商場租金收入及酒店收入分別下降25%及61%,但自第二季起商場零售額有所恢復,目標至第四季度商場出租率可達95%,重新開業率可達90%。該行指,北京零售物業市場受疫情影響大於預期,人流及零售銷售復甦情況亦落後於其他城市,相信疫情對租金收入影響較最初估計大。
大和指,大悅城正在籌建14個大型購物中心,當中計劃兩年內新開7個,預計未來幾年零售物業領域的競爭將會加劇,將大悅城2020至2022年租金收入預測下調13%至16%,並將收入及每股盈利預測分別削減6%至13%及18%至33%,目標價由1.05元下調至0.8元,但重申「買入」評級。
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