一文了解大行於新地(00016.HK)公布业绩後最新目标价及观点
新鸿基地产(00016.HK)今早股价靠稳，公司昨日收市後公布截至去年12月底止中期业绩，纯利按年跌11.9%至135.78亿元；每股盈利4.69元，派每股中期息1.25元。
若撇除投资物业公平值变动影响後，新地中期基础溢利按年升30.3%至174.82亿元；每股基础盈利6.03元。营业额按年升19%至460.7亿元，期内物业销售溢利按年升80.5%至123.66亿元，合约销售额为147亿元。总租金收入按年跌3%至123.61亿元，净租金收入跌2%至94.96亿元，表现主要受香港出租物业组合租金收入下跌所影响。
【中绩呈强劲 派息符预期】
截至去年12月底，新地於香港的土储为5,600万平方尺，其中2,230万平方尺为发展中物业，足够未来五年发展需要；另有3,370万平方尺为已落成物业，绝大部份为出租及长线投资用途。集团未来10个月计划在香港推售多个项目，销售时间和销情取决疫情发展。
摩根大通表示，上调新地目标价由128.9元上调至141.7元，评级「增持」。该行认为新地股价有进一步被重估的空间，因为新地在上升的物业市场中持有足够长时间使用的土储，且大幅扩大租务组合以补充整体增长。纵使派息政策不可能带来任何正面惊喜，但未来10个月推出最少7个项目，总楼面面积达240万平方英尺，使公司於回暖的物业市场中成为焦点。该行亦指，新地中期基础盈利高於该行预期31%，派息则符合预期。
瑞信上调对新地目标价，由120.1元上调至156.6元，评级「跑赢大市」。瑞信认为新地将在宏观展望改善及低息环境下更为受惠，因其有足够项目推出，且香港投资物业组合质素更佳，且内地稳务增长展望值得憧憬。
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本网最新综合8间券商对其投资评级及目标价：
券商│投资评级│目标价(港元)
大和│买入│156.8元
瑞信│跑赢大市│120.1元->156.6元
海通国际│跑赢大市│122.1元->148.6元
摩根大通│增持│128.9元->141.7元
美银证券│买入│139元
摩根士丹利│增持│133元
瑞银│买入│130.4元
里昂│沽售│108.3元
券商│观点
大和│公司中期物业销售盈利抵销新冠冲击
瑞信│中期业绩稳固，将推更多新项目
海通国际│置业情绪改善主要受惠股
摩根大通│业绩优预期，派息符预期
美银证券│中期业绩符预期，第四财季将推大型项目
摩根士丹利│中期每股盈利强劲
瑞银│中期业绩稍胜预期，但派息持平
里昂│估值过高，派息零增长限制股价表现
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