《大行報告》花旗下調新世界發展(00017.HK)目標價至20.2元 評級「中性」
花旗發表報告指,受高利率和香港項目難以銷售的影響,市場對新世界發展(00017.HK)的焦點都放於管理層執行去槓桿計劃上。該行維持對集團中性看法,認為其香港住宅項目主要集中在啟德區,即使在樓價見底的主題下,預料銷售亦將放緩且毛利率疲弱,同時更為關注集團內地住宅項目拖累估值,及其負債率仍然高企。
基於資產淨值折讓維持60%不變,花旗下調新世界股份目標價,由20.5元降至20.2元,評級維持「中性」。該行認為,集團管理層堅信淨負債率已於去年底見頂,並重申在可見未來沒有股權融資計劃,相信有關承諾應可為股價帶來一定支持。作為去槓桿計劃一部分,預料新世界2023財年的全年每股派息將跌15%至1.76元。
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