《大行報告》瑞銀降恆隆地產(00101.HK)目標價至14元 陳啟宗退任董事長負面
瑞銀發表報告指,恆隆地產(00101.HK)宣布主席及董事長陳啟宗將退任,並由兒子陳文博接任,惟該行對此感意外及負面。該行認為,集團策略維持不變,近期集中去槓桿和派息,加上其股價上日(30日)已調整8%,料未來股價會大致上回穩。
該行指,集團2023財年核心純利達41億元,按年大致維持不變,惟低於該行預期。集團末期股息維持派0.6元,連同中期股息0.18元,全年總派息0.78元,其派息比率達85%。
瑞銀將恆隆地產2024年至25年盈測下調介乎10%至28%,並下調估值基礎,由原先較NAV折讓55%擴至60%,目標價相應由15.5元下調至14元,維持其評級為「買入」。
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