《大行報告》摩通:領展(00823.HK)中期可分派總額高市場預期10% 市場聚焦增長動力
摩通發表報告,指領展(00823.HK)中期可分派總額高市場預期10%。按收入計算,辦公室組合和中國零售業務收入分別按年增長23%和19%。該行相信,市場對於全年可分派總額估計可能會上調至該行預測之3.18元的水平。此外,摩通相信市場可能會重新關注該股在自然增長和收購方面的勢頭,維持「增持」評級,目標價為87元。
報告補充,對領展前景持正面看法,因為現有業務持續改善,且料其目前的債務能力,加上每年2%至3%的自然增長率有望推動整體業務年增長達9%至10%。該行亦相信,在2020年初以來新冠疫情的影響下,管理層持續完成業務目標將恢復投資者對領展的信心。
另外,隨著位於深圳的領展中心城預計年底完成提升項目,該行料領展內地零售組合的租金及出租率將有所提高。
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