《大行报告》花旗上调九仓(00004.HK)目标价至21元 评级「中性」
花旗发表报告指,自从吴氏家族去年成功将会德丰私有化後,中期而言料九仓(00004.HK)不再成为私有化的目标,但相信九仓集团仍然忙於企业行动,估计下一行动为从吴氏家族收购会德丰地产。
该行相信,吴氏家族可能会按账面价值将香港会德丰地产出售予九仓,以将现金回笼。而会德丰地产由九仓持有亦是合理,因地产发展有密集资本需求、由家族直接持有的风险高,且上市公司持有可降低融资成本。
由於收益率仅3%,相对地不吸引,加上对香港豪宅市场的前景看法审慎,花旗维持对九仓股份的「中性」评级,目标价由20.4元上调至21元,以反映其股权投资上升,令资产净值折让假设由60%升至65%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.