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長和(00001.HK)續升逾4%曾越牛熊線 售鐵塔資產後部分資金擬回購股份獲瑞銀及美銀升價
阿思達克 11-17 15:22
落實出售歐洲鐵塔資產的長和(00001.HK)分別獲瑞銀及美銀升價至67元及69元。該股三連漲,今天曾重越牛熊線(57.75元),最高見57.8元,創半年高,現造57.5元,續升4.3%,成交增至1,147萬股,涉資9.91億元。

瑞銀指,將長和2021年底資產淨值估算提高19%至每股112元,以反映公司出售歐洲鐵塔資產後,現金收益增加80億歐元及Cellnex新股價值14億歐元。報告指,長和完成交易後,預計公司淨債務與總資本比率將由今年6月約26%下降至約15%,而5年內比率介乎20%-25%。這意味集團在維持現有信貸評級同時,也在向股東提供更好回報上有更大空間。在80億歐元純現金收益中,若有10%-30%被分配用於股份回購,即相當於長和市值的4%-12%。而公司計劃在2020及2021年交易完成時考慮股份回購計劃。因此,將目標價由61元升至67元,重申「買入」評級。

美銀指,長和出售歐洲鐵塔資產符合市場預期,但公司宣布將部部分所得款項分配至市場股份回購計劃,令該行感到驚喜,考慮到長和估值便宜,出售事項預期將令每股資產淨值上升15%,將其目標價上調至69元,重申「買入」評級。

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