大行評級|里昂:下調領展目標價至45港元 下調2025至2027年盈利預測
里昂發表報吿指,美聯儲減息50個基點,標誌着新一輪寬鬆政策的開始,為房託提前做好準備。利率下調應可降低融資成本及增加交易量,從而推動房託業務增長,從而帶動整個行業的每單位可分配收入增長。考慮到零售和辦公室市場的不確定性,該行建議香港房地產投資信託基金保持謹慎態度。
里昂指,雖然香港的經營環境充滿挑戰,領展房產基金在其他市場的投資組合卻因宏觀經濟強勁或結構性升級而擁有良好的增長前景。為反映香港消費外流,該行將2025至2027年盈利預測分別下調1.4%、2.3%及5.7%,目標價由45.7港元下調至45港元,維持“跑贏大市”評級。
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