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花旗:降新城悦服務(1755.HK)目標價至22港元 評級“買入”
格隆匯 03-17 15:14

花旗發佈報告稱,維持新城悦服務(1755.HK)“買入”評級,微調其2020-21年的盈利預測,目標價由24港元降至22港元。

該行稱,公司新的策略計劃旨在加強服務質素,擴展其組合及擴張增值服務等,帶動2019-2022年盈利年複合增長至45%,並期望到2022年管理面積可達2億平方米,公司已鎖定75%的合約面積,在第三方及商場方面也獲得支撐。

該行相信去年管理面積增長40%可帶動今年物業管理收入方面的增長,而到2020年其管理面積已在9000萬至1億平方米,另外公司也增加與第三方合作,並參與非住宅項目等,相信這將為管理面積增長鋪路,而新項目也預計有穩定的毛利率。在社區增值服務及智能服務方面,該行預計這些將成為增長引擎,並部分抵銷開發商服務方面所受的影響,還估計銷售中心管理方面的開發商服務收入今年增長僅在10%水平,是受惠於用户黏性及互動增加,社區增值服務及智能服務將帶動增長。

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