《大行報告》野村上調長和(00001.HK)目標價至74.5元 評級「買入」
野村發表研究報告,指長和(00001.HK)基於兩項主要提升估值的因素,包括預期全球經濟復甦,以及估值吸引,有助其股價於今年至今升14%,跑贏恆指,符合該行對集團看法正面的預期。該行料集團將於本月18日公布全年業績,料全年盈利按年跌25%至300億元,亦符市場預期,亦料管理層屆時將公布更多股份回購計劃的消息。
雖然該行下調2020財年每股盈利預測9%,以反映零售和電訊盈利受英國去年底封城影響,但調升了集團2021至22年每股盈利預測2%及4%,主要反映因出售歐洲鐵塔業務後的去槓桿化,利息開支有所下降,加上美元持續疲軟,亦有利集團盈利走勢,因集團資產大部份不是以美元計價。
該行又指,雖然股價近期走強,但集團現價較2021年資產淨值折讓45%處於低位,目標價由70元升至74.5元,評級維持「買入」。
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