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《大行報告》美銀證券:投資者對領展(00823.HK)新加坡收購不意外 維持「買入」評級
阿思達克 12-30 10:25
美銀證券發表研報指,領展(00823.HK)以近125億港元收購新加坡兩商場物業,相信收購不會令投資者感到意外,在利率上升的環境下認為作價合理,估計作價相當於2022財年淨物業收入收益率為4.9%。 該行指,雖然有投資者可能不看好領展債務增加,但認為今次所收購的項目符合領展一向聚焦於較具韌性的郊區商場要求,維持「買入」評級,相信在2023年全球經濟放緩大環境下領展仍處於有利地位。 領展管理層透露香港到期的租約租金調升的比例增加,而內地購物中心受疫情影響,銷售及客流量可能不會迅速恢復。但美銀仍相信,近期的重新開放在中期而言會有所幫助,基於股息貼現模型(DDM)估值對領展給予目標價67元。
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