大行評級|里昂:下調九龍倉置業目標價至20港元 維持“持有”評級
里昂指,九龍倉置業中期業績大致符合預期,雖然零售銷售疲弱,但續租租金調升和租務優惠減少,帶動零售租務正增長。該行相信低出租成本及持續去槓桿將繼續支持公司盈利,尤其在低息環境。
該行下調對公司今年至2026年盈利預測5.7%、8%及10%,以反映更低的零售銷售假設,目標價由26.7港元降至20港元,但基於公司堅韌盈利及清晰的去槓桿計劃,維持“持有”投資評級。
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