《大行報告》美銀證券下調中海物業(02669.HK)目標價至6.2元 評級「跑輸大市」
美銀證券發表研究報告,在中海物業(02669.HK)於上周五(8日)舉行投資者電話會議後,認為公司的前景好壞參半。一方面,管理層主動將所管理的總樓面面積由第三方來源擴展至非物業擁有者。然而,該行認為暫停執行購股權計劃將令投資者失望。
該行將公司2020至2022年的每股盈利上調3至14%,以反映自第三方取得的在管總樓面面積擴張速度加快。但相信公司的盈利狀況將低於同業,料其三年間的每股盈利年複合增長率約為28%,低於大型企業的31%。因此,認為中海物業的估值會比大型企業有所折讓。
該行將公司的目標價下調11%至6.2元,維持「跑輸大市」投資評級。
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