大行评级丨里昂:下调新鸿基地产目标价至136港元,维持“跑赢大市”评级

格隆汇
Sep 11
里昂发表报告指,新鸿基地产公布2026财政年度业绩,基本溢利228.5亿港元,同比升4.6%,大致符合该行预期,但较市场预期低2%;全年每股派息同比升4%至3.91港元,派息比率维持约50%不变。净负债比率降至10.7%,资产负债表强劲,具充足灵活性把握市场机会。管理层对香港住宅市场仍持建设性看法。该行维持预测香港住宅楼价2026年升12%、2027年再升5%。该行维持对其“跑赢大市”评级,但将目标价由148港元降至136港元,因对截至2027财政年度末每股资产净值220.20港元的折让由30%扩阔至38.1%(较五年平均高两个标准差),以反映香港物业市场近端不确定性上升。

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