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《大行報告》里昂下調港鐵(00066.HK)目標價至49元 評級「買入」
阿思達克 03-11 15:03
里昂發表研究報告指,港鐵(00066.HK)去年下半年經常性利潤遜預期,主要由於營運支出高企。港鐵宣派末期股息每股1.02元,則較該行預期高 3%。 報告指出,年初至今以來港鐵面對車站及商場租戶客流量下降和租金減免的挑戰,加上公司推出新一輪租金減免措施,因此里昂將2022至2023年基本盈利預測分別下調 50%及21%,同時下調車站商業及香港物業租賃租金收入預測假設,並提高營運開支及折舊攤銷預測,不過預期「日出康城」第十期(LP10)、「港島南岸」第一期及第二期的入賬將支撐今年基本利潤表現。 里昂又將小蠔灣房地產開發項目計入我們的資產淨值,部分抵銷盈利預測下降引致的資產淨值下降,將目標價從51元下調至49元,相信防疫限制一旦放鬆,港鐵的鐵路業務將迅速恢復正常,維持「買入」評級。
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