《大行報告》星展升新地(00016.HK)目標價至111.6元 評級「買入」
星展發表報告指出,新地(00016.HK)2024財年中期基礎溢利按年跌6%至89億元,基本符合該行預期。然而,公司中期息按年跌24%至95仙。
該行提及,新地更多項目正在籌備中,近期發展獲利有保障。繼天水圍YOHO West 1期推出反應熱烈後,公司計劃以招標形式推出啓德天璽.海豪宅及帝景園翻新單位。其他將於今年出售的項目還包括屯門NOVO LAND第三期、元朗The YOHO Hub II、YOHO WEST第二期及西沙項目一期A。至於公司旗下南京IFC商場的剩餘部分已於近期開業,而新建的TOWNPLACE WEST KOWLOON則提供新的貢獻。此外,公司在港的元朗YOHO MIX商場、巧明街零售商場,以及上海國貿中心三期的逐步竣工,將推動公司未來幾年的租金收入增長。
此外,該行認爲新地的執行力強勁,加上資產優質,應是政策寬鬆的主要受益者之一。而其大股東郭氏家族最近增持股份,亦顯示該股強大的內在價值。該行將其目標價由99.2元上調至111.6元,評級「買入」。
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