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《大行報告》美銀證券調整本港地產股目標價 料重大房策改變難於明年之前啓動
美銀證券發表報告指,由於住宅市場仍然穩固,繼續喜好香港地產發展商,其中長實集團(01113.HK)及新地(00016.HK)爲首選。至於收租股則喜好恆隆地產(00101.HK),認爲投資者低估了集團內地商場的潛在租金上升。在本地消費復甦下,該行又喜歡穩定的領展(00823.HK)及置富產業(00778.HK)。

該行表示,行業今年上半年盈利增長的主要推動力爲發展項目的入賬時間,整體而言估計信置(00083.HK)、嘉裏建設(00683.HK)及恆隆地產今年上半年/全年可有最強勁的盈利增長。另一方面,雖然英國酒館業務經營有轉勢情況,但因新項目入賬時間影響,預料長實上半年盈利會下跌44%,但隨着下半年更多項目入賬和英國重啓活動,料可支持集團全年盈利增長12%。

政策方面,美銀認爲雖然樓價持續上升,已觸發部分投資者憂慮港府可能出臺冷卻樓市措施,但相信重大房策改變難於明之前啓動,因行政長官選舉將在明年3月舉行。

該行調整本港地產股今年至2023年盈利預測,由調低7%至調升14%不等,並調整行業股份目標價。其中,港鐵(00066.HK)目標價由50元降至47元;新地目標價由144元降至139元;太古(00019.HK)目標價由67元降至64元;而太古地產(01972.HK)目標價則由26元升至27元。

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