大行评级丨里昂：上调港铁目标价至32港元，估值合理，维持“持有”评级

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里昂发表研报指，港铁公司经常性利润短期难望快速复苏，因香港客运业务成本上升将抵销访港旅客增加带来的票务收入增长。古洞站目标于2027年启用，将带来额外折旧开支，对经营利润构成压力。虽然零售销售正在复苏，但去年下半年续租租金仍下滑，反映平均租金复苏幅度有限。物业发展利润预计于2026年见顶。港铁现价较2026年预测资产净值38.9港元折让16%，与历史平均水平相若，对应2027年预测股息率4%。该行...

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