大行評級丨美銀:業績好過預期但出現不利因素,維持領展“中性”評級,目標價42港元
領展房產基金(0823.HK)截至9月底止中期可分派總額34.76億港元,同比增4.3%;每基金單位分派1.3489港元,增3.7%。美銀證券發表報吿,指雖然領展業績因利息開支較低而好過預期,不過基於不利因素出現,故維持“中性”評級,目標價42港元。美銀表示,領展中期收入增長,主要得益於強於預期的管理,以及冷氣費同比上升14.5%所帶動。領展2025財年每單位息率為7%,高於美國十年債息253個基點,與歷史平均息差相若,估值合理。不過,美國大選結果可能對領展短期有負面影響,主要是該行預期美國十年債息的預期區間,或由近期3.5%至4.25%,上升至4.25至4.75%。另外,人民幣走弱亦令更多北向資金從香港流出。
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