《大行報告》瑞信:新世界(00017.HK)業績大致符預期 目標價降至43.5元
瑞信發表報告指,新世界(00017.HK)截至6月底止全年度基礎盈利按年增長5.9%至70億元,大致符合該行及市場預期。而全財年派息按年上升1%至2.06元,意味派息比率為75%;淨負債比率則按年降6個百分點至35.6%。
該行表示,集團香港物業發展的合約銷售較原來目標超出一倍至424億港元,內地銷售亦按年增11%至202億元人民幣,管理層指引2022至2023財年在香港及內地的年度銷售分別為100億港元及200億元人民幣。
瑞信將新世界2022及2023財年盈利預測分別下調8%及10.3%,以反映下調內地項目毛利預測,並下調估值基礎,調低資產淨值(NAV)預測1.3%,NAV折讓亦由45%擴至50%;目標價相應由48.5元降至43.5元,評級維持「跑贏大市」。
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