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《大行報告》花旗微升信置目標價至18.82元重申 @ 2012-02-29T17: Back Hot News
Keyword:信置
Concept:信置股價 , 目標價15元
報告指,信置資產質量已大為改善,加上正處住宅樓價上升周期,其股價較資產淨值僅折讓25%,估值便宜,目標價由18.59元微升至18.82元,評級「買入」。(MI/A)
花旗發表報告,將信和置業的目標價由18.59元調升至18.82元,評級「買入」。該行以信置為本地地產股首選之一,指其在本地發展商中運用槓桿最佳、資產質量亦已大幅改善,本港住宅樓價又正處於上升周期,其股價較淨資產值折讓25%,估值便宜。(I)
瑞信又表示,信置鎖定於明年入賬的銷售額會是同業之冠。該大行將其資產淨值調高4%,同時將今年至2014年的盈利預測上調4%/21%/4%,以反映新盤價格高於預期。瑞銀重申對信置「買入」投資評級,並將目標價由11.5元升至14.2元,即較現價有逾8%上升空間。該股昨高見13.2元,已升破年高位的13.16元,在股價已然破位下,料升勢可期延續,中線目標將上移至15元。
地產:多家券商調高本港地產股目標價,另外銀行樓按或掀減息潮,地產股早段回吐,收市前承接力強。長實(00001)獲瑞銀上調目標價至128.6元,今日波幅不大,收跌0.27%報111.9元。摩通將新地(00016)目標上調至135元,股價全日見偏軟,惟收市前轉升,收報118.8元,升0.1元。地產股午後見承接,新世界(00017)午後突再發力,收升2.2%報10.02元,為去年8月以來首次重返10元水平。花旗今早發表研究報告,調高新世界目標價47%至12.35元,指新世界為本港地產股中估值最便宜。信置(00083)高見13.8元創逾一年來高位,尾段回吐收報13.58元,跌0.29%。
報告指,信置估值昂貴,加上「天賦海灣」銷售淡靜、發展成本高及利潤攤分,可能拖累集團的邊際利潤。維持「跑輸大市」評級,目標價12.9元,較資產淨值折讓25%。 瑞信表示,信置核心盈利符合預期,由於集團項目提早至本年完成,升本年盈測19%,同時降明年盈測14%,該行視信置為本港樓市指標,料二手市場成交高峰將於近期發生,但該行相信信置於去年12月推盤時,已是最強勁刺激股價因素。

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