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《大行报告》瑞信首予融创服务(01516.HK)及合景悠活(03913.HK)「跑赢大市」评级 升中海物业(02669.HK)评级至「中性」
阿思达克 02-16 09:56
瑞信发表报告,预期内地首百大物业管理商的规模扩展仍然完好,2020年至2025年的年均复合增长率(CAGR)料达22%,其中住宅、写字楼及零售物业等传统板块的收入CAGR估计为21%,至於新物业板块则可成额外增长动力,预期首百大的收入CAGR达27%。

在有覆盖研究的香港上市行业股份中,该行预期去年的在管面积按年增长47%,并推动收入同样按年增长47%。而有关企业去年的毛利趋势估计亦大致稳定,疫情造到的影响可被政府补贴抵销,因此该行预测有关股份去年盈利按年增长49%。

瑞信首次覆盖研究融创服务(01516.HK)及合景悠活(03913.HK),均予「跑赢大市」评级,目标价分别30.46元及11.68元。该行又上调中海物业(02669.HK)评级,由「跑输大市」升至「中性」,不过目标价由7元降至4.91元。行业中,瑞信喜好碧桂园服务(06098.HK)及融创服务,并认为雅生活(03319.HK)有更佳的风险回报。

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