《大行》大摩升長實(01113.HK)目標價至39元 料派息將會增加
摩根士丹利發表報告,將長實(01113.HK)2025至2027年的每股基本盈利預測下調6%、8%及11%,以反映最新的上半年業績、物業發展的預售和完工日期、商業物業的租金及出租率預測和利息成本預測。
大摩預計,長實受租金和基礎設施收入的穩定現金流和完成的發展項目收益所支持,料其自2025財年起,每股股息將按年增長2%,意味著約48%的基本利潤將用於派息。
該行略微上調長實目標價3%,由38元升至39元,續予「與大市同步」評級,認為長實具防守性,另負債水平低,且收入來源多元化,因此目前的估值處於合理水平,惟相信短期內的催化劑有限。
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