《大行报告》美银证券下调中海物业(02669.HK)目标价至6.2元 评级「跑输大市」
美银证券发表研究报告,在中海物业(02669.HK)於上周五(8日)举行投资者电话会议後,认为公司的前景好坏参半。一方面,管理层主动将所管理的总楼面面积由第三方来源扩展至非物业拥有者。然而,该行认为暂停执行购股权计划将令投资者失望。
该行将公司2020至2022年的每股盈利上调3至14%,以反映自第三方取得的在管总楼面面积扩张速度加快。但相信公司的盈利状况将低於同业,料其三年间的每股盈利年复合增长率约为28%,低於大型企业的31%。因此,认为中海物业的估值会比大型企业有所折让。
该行将公司的目标价下调11%至6.2元,维持「跑输大市」投资评级。
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