一文了解大行於新地(00016.HK)公布業績後最新目標價及觀點
新鴻基地產(00016.HK)今早股價靠穩，公司昨日收市後公布截至去年12月底止中期業績，純利按年跌11.9%至135.78億元；每股盈利4.69元，派每股中期息1.25元。
若撇除投資物業公平值變動影響後，新地中期基礎溢利按年升30.3%至174.82億元；每股基礎盈利6.03元。營業額按年升19%至460.7億元，期內物業銷售溢利按年升80.5%至123.66億元，合約銷售額為147億元。總租金收入按年跌3%至123.61億元，淨租金收入跌2%至94.96億元，表現主要受香港出租物業組合租金收入下跌所影響。
【中績呈強勁 派息符預期】
截至去年12月底，新地於香港的土儲為5,600萬平方呎，其中2,230萬平方呎為發展中物業，足夠未來五年發展需要；另有3,370萬平方呎為已落成物業，絕大部份為出租及長線投資用途。集團未來10個月計劃在香港推售多個項目，銷售時間和銷情取決疫情發展。
摩根大通表示，上調新地目標價由128.9元上調至141.7元，評級「增持」。該行認為新地股價有進一步被重估的空間，因為新地在上升的物業市場中持有足夠長時間使用的土儲，且大幅擴大租務組合以補充整體增長。縱使派息政策不可能帶來任何正面驚喜，但未來10個月推出最少7個項目，總樓面面積達240萬平方英呎，使公司於回暖的物業市場中成為焦點。該行亦指，新地中期基礎盈利高於該行預期31%，派息則符合預期。
瑞信上調對新地目標價，由120.1元上調至156.6元，評級「跑贏大市」。瑞信認為新地將在宏觀展望改善及低息環境下更為受惠，因其有足夠項目推出，且香港投資物業組合質素更佳，且內地穩務增長展望值得憧憬。
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本網最新綜合8間券商對其投資評級及目標價：
券商│投資評級│目標價(港元)
大和│買入│156.8元
瑞信│跑贏大市│120.1元->156.6元
海通國際│跑贏大市│122.1元->148.6元
摩根大通│增持│128.9元->141.7元
美銀證券│買入│139元
摩根士丹利│增持│133元
瑞銀│買入│130.4元
里昂│沽售│108.3元
券商│觀點
大和│公司中期物業銷售盈利抵銷新冠衝擊
瑞信│中期業績穩固，將推更多新項目
海通國際│置業情緒改善主要受惠股
摩根大通│業績優預期，派息符預期
美銀證券│中期業績符預期，第四財季將推大型項目
摩根士丹利│中期每股盈利強勁
瑞銀│中期業績稍勝預期，但派息持平
里昂│估值過高，派息零增長限制股價表現
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