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大行評級|美銀:上調恆基地產目標價至26.7港元 股息率具吸引力
美銀上調對恆基地產投資評級,由“中性”上調至“買入”,目標價由22.7港元上調至26.7港元。該行認爲,恆地股息率7.9%相對香港發展商平均5.4%具吸引力。如果一個月期香港銀行同業拆息(HIBOR)長期維持在2%水平,預計樓市投資需求將回升。且恆地產品主要針對投資者,即單位面積較小及市區地點。此外,恆地連同股東貸款的42%淨負債率,將更受惠於較低的浮動利率。該行沽算HIBOR每下降1釐,恆地淨利潤在年化基礎上可能提高6%,於香港發展商中敏感度最高。
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