晨星：维持华润置地(01109)公允价值预测43港元房地产强势投资抵消房地产开发下行_老虎社区_美港股上老虎

晨星：维持华润置地(01109)公允价值预测43港元房地产强势投资抵消房地产开发下行

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智通财经APP获悉，晨星发布研报称，维持无护城河的华润置地(01109)公允价值预测43港元，尽管将该行2026-2028年的营业利润预期下调1-3%，但对长期盈利的假设基本上保持不变。凭借其具有吸引力的风险/回报状况，华润置地仍然是该行首选的内房之一。华润置地2025年收入增长1%，经营利润下降3%。尽管房地产开发业务毛利率下降130个基点对盈利能力造成影响，但房地产投资业务强劲的盈利增长基本上...

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