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《大行报告》瑞信上调九龙仓置业(01997.HK)目标价至45.5元 评级维持「中性」
阿思达克 03-05 10:09
瑞信发表研究报告指,九龙仓置业(01997.HK)去年基础纯利按年下跌23.6%,较该行及市场预期分别高出4%及1%,主要由於苏州国际金融中心第一期落成所带动。

期内九龙仓置业来自海港城及时代广场的零售租金收入分别按年下降28%和22%,惟该行指出,去年第四季度零售表现有所改善,时代广场第四季度销售恢复增长,预期租金下调情况仍然持续,但幅度将收窄。

该行指,九龙仓置业去年写字楼出租情况较管理层预期慢,令去年下半年出租率下降,主要受新供应及疫情下在家工作趋势所影响。瑞信认为,若能重新通关,奢侈品零售市场料受益更多,九仓置业股价将更有条件上涨。

惟瑞信指出,监於九仓置业每股资产净值折让接近历史平均水平的0.5个标准差,认为疫情後市道复苏後利好因素已大致反映在股价之上,将目标价上调由45.3元升至45.5元,维持「中性」评级。

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