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《大行》匯豐下調信置(00083.HK)評級至「持有」 目標價降至8.5元
阿思達克 05-28 11:33
匯豐環球研究發表報告指,考慮到信和置業(00083.HK)利息收入預測及物業銷售利潤率預測被下調,該行下調對其2025至27財年盈利預測介乎6.1%至16.6%,並將目標價下調22%,從原先10.9元降至8.5元,評級從「買入」降至「持有」。 該行認為信置是具質素防守類股份,在房地產銷售中展現良好執行能力及充足財務資源,2024年年底淨現金增至459億港元,這足以讓其抵禦全球貿易風險。但由於利息收入料降,該行料市場對下調對信置盈測。即使預測2025財年股息率料達7.3%具吸引力水平,但該行料其股價上行空間受限。 該行認為如果信置能夠利用強勁的現金儲備擴大土地儲備,將增加中期增長可見度,其股價可能會反應積極。該行指據其最新項目推售部署,估算其住宅土儲已少於三年。
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