《大行報告》大摩上調九倉(00004.HK)目標價至23元 評級「減持」
摩根士丹利發表報告,認為九倉(00004.HK)可能無法實現今年在中國150億港元的合同銷售目標,並對中國的發展物業業務看法轉趨保守,將2021至2023財年的中國發展物業收入分別下調22%、1%及6%,因收入和利潤率下降。同時對九倉2022和2023財年的每股盈利預測(撇除撥備)分別下調3%和2%,評級為「減持」。
不過大摩指,由於零售銷售好於預期,將九倉的中國租金EBIT提高21%,加上對中國投資物業的估值較高,將目標價由22.5元上調至23元。
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