花旗发表研究报告指出,对港铁公司能以非常合理的利率发债和发行永久证券集资不会感到怀疑,以此资助新铁路项目不断增加的资本支出。上述工具的发行可能意味着港铁公司的每股盈利与每股股息之间的差距(花旗预计未来几年每股股息零增长)将继续扩大。 该行续指出,香港消费者支出行为的变化,已影响港铁公司的本地铁路营运、车站商业和物业租赁业务,预计短期内不会有显著复苏。该行维持对港铁公司的“沽售”评级,在将估值基础延展至2026财年后,目标价从23港元上调至24.5港元;将2025财年盈利预测下调14%,但将2026至2027财年盈测上调3%至4%。
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