大和:重申對中國物管業“正面”看法 業務具防守性
大和發表研究報告指,根據該行對15家中國物管公司上半年業績表現,儘管受疫情影響,它們今年上半年錄強勁的收入和純利增長,表現出它們的防守性,雖然今年下半年缺少政府資助,但認為今年全年中國物管公司的收入及盈利增長維持強勁,建議投資者應在股價回調時買入相關股票,重申“正面”看法,碧桂園服務(6098.HK)及雅生活服務(3319.HK)為首選股份。
大和認為,中國物管業仍充滿潛在機會,料中國物管業併購持續,業界亦積極尋找新的成長動力,預期物管業毛利將會普遍下降,以擴張新服務業務及併購,亦相信高盈利的增值服務將會持續保持強勁增長。
大和予中國物管股最新目標價及評級見下表:

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