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《大行报告》高盛:领展(00823.HK)内地市场加速复苏 评级「买入」
阿思达克 10-09 15:18
高盛发表研究报告,指领展(00823.HK)在10月8日举行缄默期(blackout period)前推介会,提到在上半财年(4月-9月),公司整体租务续约录负数,有三分二的租户维持或有正增长,有三分一录负增长,预期下半年不确性因素持续,相信全年续租水平会持平。

该行指,公司旗下不同行业表现不一,其中超市表现最好,餐饮亦见复苏,酒楼则未见复苏迹象;至於停车场业务方面,公司今年未有加价,而早前的使用率亦受限制社交距离措施影响。

该行又指,在内地业务方面,快速消费品的销售见复苏,人流已回复至疫情前80-85%水平,在黄金周期间,公司内地商场组合表现见正增长。

该行表示,公司的负债比率低,有空间可以进一步借贷进行并购,同时管理层亦积极投资高质资产,包括於7月购入伦敦The Cabot,及去年底购入悉尼商厦,重申2025年的组合目标,即70-75%在香港,少於20%在内地,及少於10%在海外。

该行对2021财年-23财年的每股盈利分别调整-5%、升2%,及-2%,目标价降1%至82元,评级「买入」。

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