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大行評級|摩根大通:上調太古地產目標價至19港元 內地零售展望正面
格隆匯 03-14 13:19

摩根大通報告指,太古地產去年業績並未受注視,因去年第四季經營數據改善及全年盈利按年跌11%已爲市場預期。該行指,管理層預期內地零售市場改善,基於今年首兩個月持續溫和按年增長,延續去年第四季按年增長轉正,令人鼓舞。該行因此預期內地續租租金將繼續正面調整,有助抵銷香港辦公室持續疲弱。此外,管理層亦重申承諾每股股息中單位數增長。

該行預測太古地產今年盈利增長1%,明年則受惠於更多發展物業入賬及新投資物業貢獻(料按年升15%)。該行認爲該股7.1釐股息率仍屬吸引,基於內地零售展望改善,對其資產淨值(NAV)折讓估算收窄至58%,對該股目標價由16.2港元上調至19港元,爲目標股息率6.1釐,維持“增持”評級。

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