You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
野村:予時代鄰里(9928.HK)買入評級 目標價14.35港元
格隆匯 10-08 10:08

野村首予時代鄰里(9928.HK)買入評級,目標價14.35港元,認為公司業務、規模、盈利快速擴張。

野村指,時代鄰里有59%管理資產(AuM)為非住宅物業,當中多數為公共物業,並繼續通過併購改善投資組合,相比住宅物業管理,公共物業管理不受週期性影響,收入亦較有彈性。 由於其他專業供應商未開拓公司市政服務、城市公共服務板塊,該行預計上述2個板塊為公司新增長動力,於2019-22年收入年複合增長率料達69%。

野村亦料時代鄰里2020全年管理總樓面面積按年升近1倍至7700萬平方米;2021年則按年升60%至1.22億平方米,由於時代中國支持併購、第三方項目競投增長等因素推動。

該行預測時代鄰里2019-21年核心盈利年複合增長率達85%。目標價14.35港元,反映2021年市盈率31倍預測,高於行業平均,但野村指,公司估值較高,因專注非住宅物業收購,預期公司3年AuM、盈利年複合增長率將跑贏同業。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account