《大行報告》大摩料香港4月零售銷售復甦 推薦領展(00823.HK)及希慎(00014.HK)
摩根士丹利發表研究報告指,香港3月零售銷售額按年跌14%,跌幅與2月的約15%相似,符合該行預期,當中網上銷售佔比達到近12%,創歷史新高。大摩認為,現時本港網上銷售比例仍落後於新加坡、中國內地和美國,預期未來佔比將繼續穩步增長。
大摩指出,隨著首批5,000元消費券已於4月初發放,加上社交距離措施於4月20日首階段放寬,預期在消費券計劃及社交距離措施放寬的推動下,4月零售銷售額將按年轉升1%呈復甦,按月增15%,但指出隨著消費券影響逐漸消退,同時本港與內地通關未見進展,估計增長趨勢至7月將見頂,隨後逐漸減速,維持全年零售銷售額增長1%的預測,同時將零售租金預測由增長2%下調至跌2%。
相比九龍倉置業(01997.HK),大摩表示更看好領展(00823.HK)及希慎(00014.HK),指出該兩公司遠期股息收益率分別為4.7%和6.1%,對比九倉置業僅3.5%。
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