《大行報告》瑞信上調恆地(00012.HK)目標價至43.7元 評級「跑贏大市」
瑞信發表報告表示,恆地(00012.HK)去年度基礎溢利按年升1.8%至149億元,高於該行及市場預期3%及2%,全年派息按年持平於1.8元,相當於派息比率58.5%及股息收益率5.2%。
報告又指,管理層認為短期內整體銷售仍具挑戰,但公司已錄得220億元的未入帳收入,提供了盈利可見度。該行下調恆地今明兩年盈利預測1%至9%,且降資產淨值(NAV)預測3%,而每股資產淨值折讓由50%收窄至40%,因此目標價由37.7元上調至43.7元,維持「跑贏大市」評級。
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