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《大行》大摩:潤地(01109.HK)商場收入料超越管理層指引 目標價上調至39.3元
阿思達克 07-28 14:24
摩根士丹利報告指,該行月中對4間華潤萬象城進行實地調查顯示,儘管面臨宏觀經濟逆風和激烈競爭,上半年零售銷售和客流量表現強勁,租金增長穩健,增強該行對華潤置地(01109.HK)持續獲得市佔的信心。該行預測其商場同店銷售增長維持在5%至10%,高於同業,支持下半年租金增長13%至14%,同時新商場開業將提供助力。 該行上調對潤地今年總租金收入預測3%至330億元人民幣,按年升逾13%,超出管理層8%至10%增長指引,並將明年及後年預測分別上調約3%,至366億和403億元人民幣,意味年複合增長率逾11%。 連同營運槓桿帶來利潤率提升,該行對潤地今年至2027年核心盈利和股息預測上調0.7%至3.1%,並將該股目標價由38.8元上調至39.3元。維持「增持」評級。
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