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《大行报告》里昂降华润万象生活(01209.HK)评级至「沽售」 上调目标价至44.9元
阿思达克 04-01 11:07
里昂发表报告表示,华润万象生活(01209.HK)去年核心利润低於市场预期10%,但公司管理层乐观地预期2020至2025年度核心盈利年复合增长率至少40%,主因第三方业务扩展、物业管理和商业运作以及社区增值服务和毛利率所带动。

该行补充,对华润万象生活业务扩张持正面看法,但该股现价相当於2022年度预测市盈率高达48倍,相信公司仍然需要在第三方扩张方面有更多的业绩记录,且国企对该行业的并购持谨慎态度。因此该行将其评级由「跑赢大市」下调至「沽售」,以反映高估值的因素,目标价由44元升至44.9元。

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