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《大行報告》美銀證券升雅居樂(03383.HK)評級至「買入」 多元化策助市場重估
阿思達克 09-18 11:20
美銀證券發表報告將雅居樂(03383.HK)投資評級,由「中性」升至「買入」,對其目標價由11.6元上調24%至14.4元。

該行指,雅居樂快速推進多元化業務策略,潛在分拆業務可釋放價值,有助市場對其重估,其發展物業業務亦能錄快速回報。

美銀證券預計雅居樂旗下非發展物業業務(佔毛利潤的20%以上)將帶來更高的利潤貢獻。潛在的多元化業務分拆(如園林綠化和裝飾,環保),可能會通過為這些新業務增加資金回籠有助其去槓桿化,鑑於這些新公司的估值較高,可以解鎖部分應有價值,上調2021/22年度盈測1%/6%,料2019-22年每股盈利複合增長12%。

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