《大行報告》海通國際下調新地(00016.HK)目標價至125.3元 評級維持「跑贏大市」
海通國際發表研報指,新鴻基地產(00016.HK)2023財年基礎純利按年下跌17%,低於市場預期約18%,年度股息按年持平,核心派息比率達到60%。
該行指出,期內收入及純利下跌,主要是由於新地香港房地產物業發展業務入賬金額減少,以及內地租賃收入下跌所致。海通預期新地未來三年在港的房地產發展竣工及確認入賬量內將增加,其中未來九個月內將有六個新項目推出,而內地未來九個月內則會有三個新項目推出。
海通認為新地將保持健康的財務狀況,新項目銷售及現金回收可能會支持未來新投資,考慮到香港及內地物業發展份賬時間表,相應下調2023/24及2024/25財年的收入預測,目標價從132.7元降至125.3元,維持「跑贏大市」評級。
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