《大行報告》大摩上調太古(00019.HK)目標價至82元 評級「增持」
摩根士丹利發表研究報告,指太古(00019.HK)上半年盈利和派息勝預期,新派息政策相等於5%的股息收益率。期內集團物業和飲品業務錄穩定盈利,而航空、海洋業務虧損亦見收窄,料未來每股盈利和派息有望上升,目標價由78元升至82元,評級「增持」。
該行指,公司升中期息43%至1元,並提出新的派息政策,即是佔撇除旗下國泰航空(00293.HK)業務後的經常性溢利至少50%,相等於明年股息率有5%。
該行補充,國泰中期業績高於預期,又上調太古旗下飲品業務盈利預測,且將該業務2020至2023年度盈利年複合增長率預測由5%升至15%;同時升其貿易業務盈測及海洋業務虧損料會收窄。因此,上調太古今年全年派息預測至2.25元,而明年預測爲2.75元。
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