摩通:新世界(0017.HK)股息提高或有利股價 地產股中首選長實(1113.HK)
摩根大通發研報指,新世界發展(0017.HK)和新創建(0659.HK)均因盈利復甦和疫情對大灣區的影響有所減緩,因而提高了每股派息,儘管盈利增長前景受壓,但認為有關香港房屋和土地政策的相關消息仍將是地產商股價的主要推動力,新世界發展的股息增加或對短期股價有利。
該行表示,在房地產領域中,認為擁有最少住宅土地儲備並專注於國內消費的業主,即領展(0832.HK)和希慎(0014.HK)將跑贏大市,而長實集團(1113.HK)是該行於地產股中首選股份,並持續進行股票回購,可為該行業提供下行保護,而置地是唯一一家制定了具體目標即回購其已發行股票約5%的公司。
該行提及,對於新創建(0659.HK),在邊境還沒有重新開放的情況下,預計道路和保險業務的自身增長將達到個位數;而水處理廠、航空和建築業的收入損失可能會抵銷部分增長,隨着飛機的公允價值已下調,以及區域航班亦有所改善,預料公允價值重新計量和減值在內的非經營性虧損將在2022財年收窄。也就是説,在任何收購實現之前,該行預期新創建經營利潤增長較保守。
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