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美銀證券:升碧桂園服務(6098.HK)目標價至55港元 重申為行業首選
格隆匯 08-05 16:26

美銀證券發表研究報告指,碧桂園服務(6098.HK)在收購廣告服務商城市縱橫後,集團在眾多因素推動下,將會繼續保持增長。該行上調碧桂園服務目標價28%,由原來的43港元升至55港元,維持“買入”評級,並重申集團仍為該行的行業首選股份

美銀證券表示,有關交易包括了2019年至2022年的15%複合年增長率的核心利潤增長保證,但該行認為,由於公司管理的13萬個電梯廣告位有助收入增加,因此實際的增長應該更高。雖然廣告業務較物管業務更具週期性,但其低門檻估值可提供緩衝。

該行指,公司在併購方面不應只專注於規模,亦應關注從周邊業務中受惠,加上併購,周邊業務可從在管面積有更好增長,亦不擔心併購增加公司盈利的波動性。

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