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《大行報告》匯豐研究下調九倉(00004.HK)目標價至22.8元 評級「減持」
阿思達克 08-11 11:42
匯豐研究發表報告指,九龍倉集團(00004.HK)上半年表現遜預期,基本虧損為5億元,內地物業減值37億元為主要拖累因素,但大致符合該行對國內房地產業務因政策影響而有較審慎的看法。 該行指,因應過去2年公司在內地補充土儲不足,令增長前景轉弱。在銷售未能達標的風險預期下,維持「減持」評級,目標價由23.9元降至22.8元,降2021至23年盈利預測47.7%、4.5%及7.6%,以反映今年的減值撥備和2021-23年內地銷售預期 。 該行又指,香港物業發展可以部份抵銷內地業務轉弱,而中國租賃業務收入則有45%的反彈式增長,主要來自長沙IFS和成都IFS商場。
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