里昂发表研究报告指，今年内房将得到更多政府支持，但由于特朗普2.0政策令美国的利率不确定因素上升，令香港投资需求回升面对更大风险。该行预期，内地及香港的房价将于下半年回稳，惟上半年的房价仍会下跌。该行更看好内地房地产而非香港房地产，以反映内地刺激政策方向的更高确定性。
个股方面，里昂表示，由于华润置地(01109.HK) 的估值偏低及基本面强劲，继续将其列为行业首选，予“跑赢大市”评级，目标价30元；鉴于新地(00016.HK) 面对利率前景不明朗及估值偏高，予其“跑输大市”评级，目标价63.6元。至于新世界发展(00017.HK) ，由于集团物业销售减少及利润率下降，将其目标价由8.8元大削至4.1元，由于估值已低迷，续予“持有”评级。该行补充，不预期新世界未来12个月违约。(sl/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-02-06 16:25。)
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