《大行報告》美銀證券上調復星國際(00656.HK)目標價至12元 評級「買入」
美銀證券發表的報告指,復星國際(00656.HK)去年淨利80億元人民幣(下同),按年跌45%,但仍好過該行預期10%,主要因為投資收益勝預期,期內收入按年跌4%至1,370億元,工業經營溢利跌27%至82億元,經調整資產淨值則升9%至每股26.09港元,而公司負債比率大致維持在54.3%左右水平。
該行指出在投資方面公司聚焦於在投資中獲控股權,而收購目標估計可支持其現有的核心業務表現,同時公司亦聚焦於風險投資,估計將更多於新科技層面。在人力資源方面,公司已進一步擴張國際合夥人至逾110家,同時亦有推出更多激勵計劃予中低層員工,另外公司亦聚焦於改善經營效率。
該行維持對公司「買入」評級,相信其盈利質素改善,料支持估值重評,目標價微升1%,由11.9港元上調至12港元,以反映其已上市資產的最新市場價值及人民幣升值影響。
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