《大行報告》美銀證券下調長建(01038.HK)目標價至52.6元 評級「買入」
美銀證券發表報告指,長江基建(01038.HK)屬英國持續通脹的受惠者,重申予「買入」評級,目標價由53元略降至52.6元。
報告指,該行經濟師將英國2023和2024財年CPI預測從3月份預測的6.3%和1.9%分別上調至7.3%和2.5%,以反映非能源商品和食品通脹上升,樓價跌幅較小,並認為在發達經濟體中,英國的持續通脹問題最嚴重。該行認為,英國高通脹有利於長建的利潤增長,因為其英國投資組合的受監管資產基礎與通脹率掛鉤,並有一到兩年時間滯後。
另外,該行經濟師預計,美國5年期和10年期政府債券收益率將由3.95%和3.79%分別降至第四季的3.4%和3.25%。該行認為,政府債券收益率下降將令長建股息率更具吸引力。
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