《大行報告》里昂上調信置(00083.HK)目標價至13.8元 評級「跑贏大市」
里昂發表的研究報告指,信和置業(00083.HK)上半財年盈利跌21.3%,主要因為疫情影響到其物業租賃及酒店業務,不過考慮到公司淨現金水平較高,對其派息憂慮較細,而公司已鎖定未來一至兩年的利潤,同時亦相信2021財年或有機會派發特別息,一來因為公司50週年,二來亦因為將有大額盈利入帳,維持「跑贏大市」評級,目標價由11.7元升至13.8元。
該行指出公司上半財年盈利跌21.3%至21.43億元,主要因為物業租賃及酒店貢獻減少,期內淨租賃收入跌10.9%至16.29億元,酒店業務則錄5,290萬元經營虧損。截至去年底公司有逾240億元未入帳銷售,是2020財年收入的四倍,而相關利潤亦較高,考慮到其盈利可見性較高,認為未來派息的確定性亦較高,加上公司估計凱匯將於今年4月獲滿意紙,屆時交付盈利就可入帳。(el/k) ~
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