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《大行報告》摩通降九龍倉置業(01997.HK)評級至「減持」 目標價下調至36.8元
阿思達克 09-10 10:00
摩根大通發表報告,將九龍倉置業(01997.HK)評級由「中性」降至「減持」,基於目標股息收益率4%及目標資產淨值(NAV)預測折讓43%,目標價由39.6元降至36.8元。 該行表示,九倉置業面對數個風險,主要來自中港進一步延遲通關、內地遊客的消費習慣可能有變,及集團明年的租金和資產重估面對進一步下行風險。另外,對比全面通關,估計下週即將啓動的「來港易」計劃對來港旅行的推動力非常小。該行視任何股價強勁反彈的時候會沽貨良機。 該行稱,九倉置業現估值相當於預測市賬率0.62倍,「來港易」計劃或帶來短期刺激,但認爲現估值不具持續性,除非租金收入重返2018年水平,但現時相距達47%。
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