《大行報告》匯豐研究降希慎(00014.HK)評級至「持有」 目標價下調至13.7元
匯豐研究發表報告指,希慎(00014.HK)去年業績一如預期疲弱,最大失望是每股派息削減25%。商場租務前景正在改善,但可能不足以令盈利增長復常。雖然明白管理層預留資金支持發展的理據,但投資者可能失望,而信心需要時間恢復。
該行將其評級由「買入」下調至「持有」,目標價由17.8元下調至13.7元,最新每股資產淨值估算由55.7元下調至51元,目標價折讓由68%調整至73%。今明兩年核心盈利預測分別下調13.1%及17%,寫字樓租金收入假設下調,以及財務成本增加,部分被零售租金收入假設上升所抵銷。
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