大行评级|高盛:上调九龙仓置业目标价至36港元,评级升至“中性”

格隆汇
Aug 13
高盛发表研报指,九龙仓置业中期业绩反映管理层资本配置方针出现明显转变,派息比率由65%上调至90%,2026财年每股股息预测同比增43%至1.89港元,相当于约5.8%股息收益率,与领展的6.4%相若,高于大部分同业。该行将九龙仓置业评级由“沽售”上调至“中性”,目标价由28港元上调至36港元,对应2026财年每股资产净值预测有约40%折让。高盛认为,虽然旗下时代广场面临竞争压力,租金收入结构性挑战仍有待解决,但股息收益率提升至5.8%或推动估值重估,对九龙仓置业2026至28年每股基本盈利预测上调介乎0%至15%。

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