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《大行報告》摩通調整地產及收租股目標價 看好新地、信置、長實及太古地產
阿思達克 01-05 10:12
摩根大通發表研究報告,表示對香港房地產市場持謹慎態度,只對6隻香港地產股予以「增持」評級,首選新地(00016.HK)、信置集團(00083.HK)、長實(01113.HK)及太古地產(01972.HK)。

摩通表示,今年較看好住宅及寫字樓市場,看淡零售市場,指出投資者預期2021年樓市將有所復甦,但該行相信年內的復甦將顛簸,考慮到市場資金充裕及未來數年供應量不足,預測今年樓價將升5%至10%,成交量升約10%。

該行又指出,雖然寫字樓租賃需求主要取決於內地經濟增長及商務出行的恢復,假設疫苗接種令全球經濟步向正常化,寫字樓市場是現時最被忽略市場。該行稱,去年末季零售收租股強勢已反映入境旅客人數回升至2019年1月的86%的樂觀預期情境。

該行將太古地產及冠君產業信託(02778.HK)上調至「增持」評級,以反映對辦公室市場的樂觀看法,並將新世界發展(00017.HK)、嘉里建設(00683.HK)、領展(00823.HK)、希慎(00014.HK)、九龍倉置業(01997.HK)、置富產業信託(00778.HK)及恆隆地產(00101.HK)由「增持」降為「中性」,考慮該等公司股價已明顯上升,指出零售復甦將充滿不確定性,建議投資者將零售收租股先行獲利。該行調整地產及收租股評級及目標價詳情見另表。

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