《大行報告》里昂降嘉里建設(00683.HK)目標價至16.7元 減派息風險相對低
里昂發表報告指,嘉里建設(00683.HK)去年核心盈利按年跌22.2%,主要因為物業銷售貢獻減少,但全年每股派息維持1.35元,股息回報10%。雖然外在環境具挑戰、負債增加,但管理層認為毋須削減派息,承諾維持持平的股息,該行相信穩定派息是由強勁的租金收入支持。
該行將公司今明兩年盈利預測,分別下調21.1%及27.9%,以反映物業銷售量及利潤率下跌,目標價由19元下調至16.7元,維持「買入」評級,以反映其10%股息率及相對較低的削減派息風險。
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