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《大行》匯豐研究:看到香港樓市有改善跡象 看好恆地(00012.HK)新地(00016.HK)等
匯豐環球研究報告指出,有傳媒報道稱,新世界發展(00017.HK)正就更多融資進行洽談;若獲證實,或有助緩解投資者對本地地產行業的擔憂。匯研又指出,香港房地產交易量正在改善、降息預期上升及借貸成本降低,應支持樓市復甦;該行認為恆地(00012.HK)及新地(00016.HK)等發展商處於更有利位置;亦看好九龍倉置業(01997.HK)及希慎(00014.HK)這類收租股。 匯豐研究維持對該行業的建設性看法,也看到更多樓市趨穩的跡象,包括近期一手住宅銷售穩步改善。相較其他行業,香港本地房地產行業受全球貿易及關稅不確定性的直接影響較小,可能處於相對有利的位置。 在發展商中,該行看好恆基地產,因受借貸成本降低及物業銷售改善支持下,相信其盈利前景有所改善。新地是少數擁有良好盈利可見度及股息確定性的發展商。 匯豐研究又認為,九龍倉置業及希慎興業均蘊藏機遇,因其商場組合將受益於消費增長,這得益於正面財富效應及旅客訪量支持其股息支付。鑑於預期的降息周期及借貸利率有望下降,匯豐亦看到該行業的盈利前景改善。匯豐預計美聯儲將於9月降息,但至2026年底降幅不超過75個基點。 以下是匯豐研究對本地地產股的評級及目標價: 股份|評級|目標價(港元) 恆地(00012.HK)|買入|34.2元 希慎(00014.HK)|買入|18.6元 新世界(00017.HK)|減持|3.84元 新地(00016.HK)|買入|112.9元 九龍倉置業(01997.HK)|買入|30元
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