大行評級|建銀國際:上調領展房產基金目標價至45港元 雖落後大市但潛力巨大
建銀國際發表報吿,稱領展房產基金難以避免租金下滑的情況,但認為回購、併購及REITs納入港股通將可成為股價催化劑,雖然領展落後大市但潛力巨大,因此將其目標價由43港元上調至45港元,維持“優於大市”評級。
報吿稱,領展上週舉行電話會議並公佈截至6月底止首財季經營數據,當中香港商場零售額下降5.9%,略好於香港整體零售市場,預計今財年續租租金調整率將持平。建銀國際認為,目前利率下行緩解業主供款壓力,同時股市上升亦帶來正財富效應,應能對沖樓價下跌帶來的影響,預計領展零售額可能在未來3至6個月見底,預計總下跌幅為8%至10%,續租租金調整率最終下降約3%至5%。
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