《大行報告》匯豐研究下調九龍倉置業(01997.HK)目標價至32.4元 評級「減持」
匯豐研究發表報告指,新一輪的防疫措施可能會拖累零售業的表現,並推遲通關。由於近期前景變得模糊,該行降低了對九龍倉置業(01997.HK)盈利恢復步伐的預期,維持「減持」評級,目標價由33.2元下調至32.4元。
雖然匯豐研究認爲一旦第五波疫情受控,國內零售消費可以恢復,但料旅遊消費的復甦或需更長時間。而恢復無檢疫的跨境旅行亦很可能再推遲,這將削弱公司的盈利恢復步伐,因爲其租金錶現高度依賴旅遊消費,估計其零售和酒店業務佔比達69%。
該行將九龍倉置業2021財年至2023財年的盈利預測下調1.7%至5.7%,以反映香港組合的零售租金假設下降。
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