《大行報告》匯豐研究:信置(00083.HK)中期業績疲弱為預期內 目標價上調至11元
匯豐研究發表研報指,信置(00083.HK)去年底止中期業績表現疲軟,基礎溢利按年下跌36%至28億元,符合市場預期,主要是受項目入賬時間所影響,中期派息維持在每股0.15元不變。
該行預計,信置將在未來幾個月加快推出新盤項目,以捕捉市場銷售窗口,指出中港通關後房地產市場情緒有所改善,信置年初至2月15日權益合同銷售額超過18億元,相對於去年下半財年預計銷售額為 27億元。
匯豐研究認為,如果信置能夠補充更多的土地儲備,並增強中期盈利增長可見性,股價有望作出正面反應,憧憬公司今年可售資源多元化且穩健,今年計劃推售的6個新項目應佔伙數達2,077個單位,其中4個項目已取得預售許可;租金收入方面,該行預期仍需要一段時間才能復甦。
該行維持其「買入」評級,目標價從10.8元升至11元,並將2023至2025財年核心利潤預測上調1.5%至4.2%。
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