《大行報告》大華繼顯下調新世界(00017.HK)目標價至21.65元 評級「買入」
大華繼顯發表研究報告指,周大福企業提出以每股作價9.15元收購新創建(00659.HK)全部已發行股份,如獲新世界(00017.HK)獨立股東批準,新創建股權出售後的所得款項爲217.82億元,將使新世界的淨負債率降低5.2%,並改善其現金與短期債務比率。但隨着新創建不再合併,新世界的盈利和股息預計將收縮約30%。
該行維持新世界的「買入」評級,惟下調目標價15.1%,由25.5元降至21.65元。另外,由於該出售事項仍有待股東批準,故維持集團的盈利預測。該行相信,中短期內由於資產負債表強勁,其融資渠道亦將會加強。
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