《大行报告》美银美林下调上实(00363.HK)目标价至22元 评级「买入」
美银美林发表报告表示,上海实业(00363.HK)今年上半年纯利升1.4%至20亿元,符预期,其中来自基建项目升5.5%,消费升2.5%,但被物业务发展跌5.9%所抵销。而每持有1股公司股份,可获发1股上实城开股份,上实城开股份上日收市价1.14元计,相等於派息比率为62%,假设公司维持末期息0.52元,股息率相等於11%。
该行表示,降上海实业目标价14%,由原来25.7元至22元,以反映估值下降,及於上实城开的股权由70%降至47%,重申「买入」评级,认为估值吸引。
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