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《大行報告》美銀證券降新世界(00017.HK)目標價至9元 評級「跑輸大市」
美銀證券發表報告指,新世界發展(00017.HK)以40.2億元向華懋出售荃灣愉景新城商場D-PARK,估計作價反映淨物業收入資本化率5.5%,與近期市場成交大致相若,預期集團將會繼續剝離非核心資產,例如寫字樓項目K11 Atelier King's Road商廈、酒店組合的持股、銅鑼灣名珠城零售項目等。 由於截至去年底止中期的一般行政及稅務開支高過該行預期,因此該行更新對新世界2024財年的現金流估算,預期錄得約60億元淨現金流出。因應中期業績遜預期,將2024至2026財年股東應佔核心純利預測下調10%至19%,目標價由9.5元下調至9元,維持「跑輸大市」評級,以反映對其槓桿水平的關注。
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