《大行報告》匯豐研究下調恆地(00012.HK)目標價至39.2元 評級「買入」
匯豐研究發表研究報告指,恆地(00012.HK)中期業績遜於預期,主要是受到公用事業和能源業務所拖累,預期房地產銷售下半年將改善,同時憧憬農地成功轉換將成為股價催化劑,維持「買入」評級。
報告指出,恆地上半年基本利潤按年下降34%,剔除非現金公允價值重估收益,利潤下跌約13%,考慮到來自中華煤氣(00003.HK)的經常性溢利貢獻較弱,該行預計恆地全年每股派息將持平於1.8元,相當於股息收益率料6.6%。展望未來,該行預計下半年更多大眾市場定位的住宅項目將面市,其物業銷售業務將有所改善。
同時憧憬公司北部都會區內的農田成功轉化為住宅用途,其股價或有正面反應。該行指,從補充土地儲備的角度來看,北部都會區的佈局成本較合理,可為恆地提供更高的增長可見性。報告將恆地2022至2024年核心盈利預測下調2.7%至7.4%,以反映公用事業業務疲軟及預期利息支出增加,目標價由41.8元下調至39.2元。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.