《大行报告》摩通下调时代邻里(09928.HK)目标价至11元 评级「增持」
摩根大通发表研报指,自2020年8月以来时代邻里(09928.HK)股价一直下挫,主要由於市场对其并购依赖度的忧虑;现估值相当於未来一年预测市盈率仅11倍的历史低位。
该行称,时代邻里刚公布的全年业绩提醒市场,其2020至2023年预测纯利年复合增长率超过50%,属同业之中较高水平;加上并购往绩稳健;在大湾区的住宅+公共物业管理有独特市场定位。
摩通指出,管理层将并购新增面积目标由2020年度的占比68%,降至2023年的30%,预期可引发估值重评,予「增持」评级,下调目标价由13.5元降至11元。
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