《大行報告》美銀證券料本港明年樓價溫和下跌 下調地產股目標價
美銀證券發表研究報告指,相信投資者過份憂慮香港政策轉變不利樓市,若《施政報告》中未有大力增加私樓供應,或過份冷卻樓市措施,相信行業會回升,其中新鴻基地產(00016.HK)和新世界發展(00017.HK)為最受惠。
然而,該行預期2022年住宅樓價會溫和下降,影響新盤銷售量數字,以及股價上升的潛力,因此降地產商目標價分別9-17%,以反映較大的資產淨值折讓,整體香港發展商目前平均折讓率約61%,或較2018年以來歷史平均低1.5個標準差。至於收租股中,看好領展房產基金(00823.HK),認為其可受惠零售市道復甦、可分派收入增長,以及估值吸引。
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