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大行評級|傑富瑞:下調恒隆地產目標價至8港元 下調2024至26年度盈測
格隆匯 05-27 11:03

傑富瑞發表報吿指,恒隆地產股價自年初至今累計調整26%,跌幅超出同業平均約10%的水平,主要因為市場關注本地零售前景,以及以股代息的攤薄效應。在跨境旅遊復甦、日圓弱勢、市場競爭激烈下,本財年租金收入可能下跌。資本開支高企將會導致負債比率維持高水平,利息成本增加,因素疊加令未來一年面對困難,亦對每股派息構成風險,對其持“持有”評級,目標價由9港元下調至8港元。該行將其2024至2026年度盈利預測下調13%至28%,以反映本地奢侈品消費及利率前景,2024財年每股派息預測下調至0.6港元,相當於股息率7.5%。

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