摩根大通报告指，太古地产(01972.HK) 去年业绩并未受注视，因去年第四季经营数据改善及全年盈利按年跌11%已为市场预期。管理层在业绩报告会中的论调，较过去两次公布业绩时正面，主要在内地零售方面。
该行指，管理层预期内地零售市场改善，基于今年首两个月持续温和按年增长，延续去年第四季按年增长转正，令人鼓舞。该行因此预期内地续租租金将继续正面调整，有助抵销本港办公室持续疲弱。此外，管理层亦重申承诺每股股息中单位数增长。
该行预测太古地产今年盈利增长1%，明年则受惠于更多发展物业入账及新投资物业贡献(料按年升15%)。该行认为该股7.1厘股息率仍属吸引，基于内地零售展望改善，对其资产净值(NAV)折让估算收窄至58%，上调对该股目标价由16.2元升至19元，为目标股息率6.1厘，高于同业置地(新加坡上市)的5.6厘。该行维持对太古地产“增持”评级。(fc/da)(港股报价延迟最少十五分钟。沽空资料截至 2025-03-13 16:25。)
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