大行评级丨小摩:大幅升九龙仓置业目标价至35.7港元,评级升至“增持”

格隆汇
Aug 07
摩根大通发表研报指,九龙仓置业管理层对经营环境前景看法转至乐观,为市场带来惊喜,是公司多年来首次展现较高信心,认为最困难时期已经过去。同时,公司出乎预期修改派息政策,将派息比率由65%上调至90%。该行指出,虽然今年下半年基数较高,但预期海港城的租户销售额将维持同比正增长,并跑赢大市;预计2027财年的续租租金调整比率或会转正;随着时代广场对业绩的拖累减轻,预计公司2025至28财年的盈利复合年增长率达4%。该行将九置评级由“中性”上调至“增持”,目标价由23港元大幅升至35.7港元。

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