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大行評級|瑞銀:予信置目標價11港元及“買入”評級 未來將重視利潤率多於銷量
格隆匯 05-28 15:13
瑞銀髮表報吿,指信置上日出席了瑞銀亞洲投資論壇(AIC),指在2月底港府完全撤辣後,旗下新屋銷售有重大改善。不過,由於新盤市場競爭激烈,4月銷售動力開始放緩。展望未來,公司擬將重視利潤率多於銷量,因公司處強勁淨現金狀態。公司預期明年6月底止2025財年發展物業利潤率將改善,因錦上路柏瓏銷售入賬。報吿稱,會上信置亦提及港人北上消費成風,對旗下商場租户銷售開始帶來挑戰。即使客流量按年持平,但首四個月香港租户銷售按年有高單位數跌幅。以租户業務細分,戲院、超市、選擇性餐飲,以及百貨公司跑輸大市,而化粧品錄強勁雙位數增長,珠寶及時裝表現亦較佳。報吿引述公司稱,信置手持430億港元現金,定存收益率達4.7%至4.8%,對現金管理維持審慎態度。公司重申穩定而漸進的派息政策。該行予信置目標價11港元,評級“買入”。
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