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《大行報告》匯豐研究升港鐵(00066.HK)評級至「買入」 目標價上調至49.4元
阿思達克 06-28 09:53
匯豐研究發表的報告指,對港鐵公司(00066.HK)2021年盈利預測較市場預期高16%,主要因爲認爲日出康城項目入帳表現穩健,加上本地交通業務逐步回覆正常,加上港鐵三大主營業務包括客運、零售租賃及物業發展均均逐步改善及回穩。該行認爲公司本地運輸業務利潤將在上半年轉正,同時屯馬線二期於昨日(27日)開通,去除了進一步延遲開通的憂慮,將公司評級由「持有」升至「買入」,目標價由46.4元升至49.4元。

該行指出今年首五月港鐵本地客運平均每月乘客達約1.06億人次,按年增19%,雖然較疫情前2019年月均乘客數仍低20%,但認爲公司仍可受惠經營槓桿,估計EBITDA將於今年上半年轉正,而車站及商場租賃業務料會在今年下半年回穩,主要因爲租金優惠減少,加上將軍澳的新商場將帶來收入。

另外香港樓市亦正復甦,今年以來樓價按年升5%,估計對公司物業開發業務有利,考慮到公司項目產品線較強,料將有逾2.3萬個住宅單位在未來五年完工,估計公司盈利可受惠樓價向上。

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