里昂发表报告指，《彭博》报道周大福创建(00659.HK) 或以20亿美元出售收费公路项目。纵使未有官方公布，该行基于公路项目一年盈利预测推算，交易估值为未来一年市盈率10.6倍，高于同业平均的7.8至9.8倍。若20亿美元作价落实，将增加周大福创建2026财年预测资产净值(NAV)约7%。周大福创建目前股价为NAV折让42%。
该行又指，若同系新世界发展(00017.HK) 债务违约，对周大福创建盈利及资产负债表影响将可控。周大福创建现持有新世界发展两批债券，在全面减值情景下将导致周大福创建经常性溢利减少4%至5%，约11亿港元所持债券公平值为公司目前市值约3.5%。
该行目前维持对周大福创建“跑赢大市”评级及8.6元目标价，基于其9厘股息。(fc/da)(港股报价延迟最少十五分钟。沽空资料截至 2024-12-31 12:25。)
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.