中信里昂:降长实集团目标价至31.3港元 维持“持有”评级

新浪港股
24 Mar
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  中信里昂发布研报称,将长实集团(01113)目标价从32.2港元下调3%至31.3港元,以反映该行的估值前推及更高的美国国债收益率,并维持“持有”评级,将长实2025/26年盈利下调7.4%及12.7%,以反映较低的房地产销售利润率和租金。报告指,集团2024年基础每股盈利同比下降15.1%,因此全年每股股息减少15.1%。虽然长实不再将自己定位为开发商,且其经常性收入一直保持强劲,但该行认为,香港住宅物业市场充满挑战,因此销售利润率较低将继续拖累盈利和股息。

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