《大行報告》裏昂上調嘉裏建設(00683.HK)目標價至26.6元 評級「買入」
裏昂發表研究報告指,近期考察嘉裏建設(00683.HK)位於北京及上海的投資物業,發現購物中心及辦公室總體客流量都回復至疫情前水平,認爲中國內地租賃業務強勁復甦,表現具韌性,支持其近期於上海黃浦區核心地段地皮的收購。該行認爲,這有盈利能力的併購展示管理層推動長遠回報的執行力,亦讚許其多措並舉以釋放股份價值。維持予「買入」評級,目標價由26.45元輕微上調至26.6元。
該行認爲,內地政府應對疫情的新政策快速有效,減輕對當地家庭日常生活的影響,從而減輕對購物中心和辦公業務的影響。同時,中產階級消費升級亦帶動商場零售額增長,尤其是高端消費和精品。
此外,繼出售嘉裏物流(00636.HK)權益及於去年10月支付每股2.3元特別息外,嘉裏建設表達其回購意向,並自去年9月起累斥4,000萬元回購約200萬股,該行相信管理層多項舉措展示其決心股份價值及回饋資本予股東。
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