《大行報告》美銀證券降恆隆地產(00101.HK)目標價至12.6元 去年業績略遜
美銀證券發表研究報告指,恆隆地產(00101.HK)去年業務略遜預期,但考慮到其以人民幣計價的內地租金收入維持穩定,相信恆隆在業績公布後的股價調整屬市場反應過度。
管理層預計,今年中國內地零售額將實現中單位數百分比增幅,大幅超出市埸預期的下跌7%至10%。計及利息支出增加,美銀將恆隆2024至2026財年核心利潤預測下調3%至5%,並將目標價由14元下調至12.6元,重申「買入」評級。
該行又指,恆隆承諾維持穩定派息,但若果集團選擇以股代息,則每年可能會有約4%至5%的盈利攤薄。
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