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《大行报告》野村:市场过度忧虑恒大物业(06666.HK)母企流动性 评级「买入」看18.5元
野村发表研究报告指,恒大物业(06666.HK)6月以来股价累跌约19%,主因市场忧虑其母企中国恒大(03333.HK)流动性紧张,以及IPO锁定期届满。该行认为市场过度忧虑,恒大流动性已开始改善,恒大物业本年至今第三方扩张进展亦好过预期。此外,锁定期後基投及IPO前投资者出售2.5%已发行股本,亦优化股东结构,可引入更多机构投资者。

该行维持恒大物业目标价18.5元,评级「买入」,现估值相当於预测明年市盈率12.5倍(相对同业21.5倍),认为明显被低估。料迎来多个短期催化剂,包括潜在并购;上半年潜在盈喜(该行料纯利按年增长60%);以及回购决议在6月15日股东周年大会潜在获得批准。

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