《大行报告》大摩上调永升生活服务(01995.HK)目标价至18.7元 评级「增持」
摩根士丹利发表研究报告,指永升生活服务(01995.HK)2020至2021年盈利增长目标为60%,该行认为有望达成;同时五年後的的管理面积增加500万平方米。该行上调其2020至2022年盈测4%至8%,以反映毛利扩张;目标价由17.38元升至18.7元,维持「增持」评级,维持该行首选股之一。
该行指出,在新公司架构下,旭辉(00884.HK)控制权更高,相信双方未来会更多的合作,包括获得更多物管项目、在旗下社区扩大增值服务等,相信会有更大的协同效应。
大摩引述管理层称,料至2023年,物业管理及增值服务收入贡献占比料各半。毛利组合方面,至2023年,物业管理及增值服务料贡献分别20%至30,以及70%至80%。
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