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《大行報告》花旗升信置(00083.HK)目標價至8.7元 評級「沽售」
花旗發表報告表示,在疲弱的樓價下,信置(00083.HK)估值將繼續低迷,其手頭上390億元的淨現金也面臨需要在存款回報下降和高風險投資之間做出選擇的兩難處境,另外預計其2022至2024年盈利將低於2021年的水平,未來3年其股息可能只會在名義上提高或保持不變。該行將信置目標價由8.55元輕微上調至8.7元,重申「沽售」評級。 該行指出,信置將於2022年推出四個新項目,涉及1,800個單位;由於集團於下半財年沒有項目落成,盈利將會低過上半財年。花旗預計,信置2022年度現金回報將按年下降約30%,為了有效利用現金,管理層可能會選擇投資其他領域,包括風險較高的項目。
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