《大行報告》摩通維持對長實集團(01113.HK)正面看法 評級「增持」
摩根大通發表研究報告,預期長實集團(01113.HK)將於8月初公佈上半年業績,該行料其純利達91億元,按年增長11%,未計入任何一次性出售飛機租賃業務及倫敦辦公室所取得的收益;料中期派息增加10%至45仙。
該行認爲,雖然長實集團股價年初至今已跑贏大市24%,但其估值相當於預測2023財年市賬率0.53倍及低於9倍市盈率,不算昂貴。雖然市場憂慮加息將損害對房地產股的投資興趣,但相信對長實的影響不大,因公司接近淨現金水平,且對香港的住宅開發敞口有限。儘管該股可能沒有太多新的催化劑,但料如回購等投資策略將隨時間推移而發揮作用。
此外,摩通在假設長實的資本管理方向不會出現大幅變動的情況下,維持對其股價正面的看法,評級續爲「增持」,目標價67元。
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