《大行報告》高盛升新地(00016.HK)及恆隆地產(00101.HK)評級至「買入」 降恆地(00012.HK)及九龍倉置業(01997.HK)至「中性」
高盛發表研究報告指,香港地產股未有對香港經濟活動緩慢復甦有太大反應,但認為行業嚴冬已過一半,目前尋求細分市場之間和內部的更大差異。
在住宅方面,該行認為,目前的表現較其他穩健,因低息環境和供應緊張;零售方面,租務結構重組帶動調整,但因低基數故租賃率有緩衝;寫字樓方面,預期會有更多去中環化出現。
該行經分析,一級商場和本地化商場零售銷售新常態、分區寫字樓租務需求、以及人口增長和結構調整後,預期整體行業仍然具風險,因宏觀和本地經濟不確定性仍存。
該行目前較看好投資組合中具有面向大眾市場的發展商、中國零售佔比較多、有其他非住宅(如數據中心、物流等)的組合公司。該行將新地(00016.HK)評級升至「買入」,恆地(00012.HK)評級升至「中性」;零售方面,恆隆地產(00101.HK)升至「買入」,九龍倉置業(01997.HK)評級降至「中性」,重申對長實集團(01113.HK)「買入」評級,但自確信買入名單中剔除。
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