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《大行報告》美銀證券降ESR(01821.HK)評級至「中性」 目標價下調至26.5元
阿思達克 08-06 10:18
美銀證券發表報告,下調ESR(01821.HK)評級,自「買入」降級至「中性」,指其已「失去光芒」,目標價亦自31元下調至26.5元,以反映ESR擬以總代價52億美元全購亞太房地產資產管理公司ARA的公布,指是以犧牲自身獨特的市場定位以換取規模增長。 報告指ESR在管理基金方面的紀錄仍然良好,惟多項因素將致其估值下調,包括其高估值的純亞太區物流及數據中心投資業務縮減,長期基金收費增長放緩,尤其是來自ARA之永久及核心基金為較低增長的基金類型。該行同時輕微上調ESR於2022年及2023年的每股盈利預測,以反映收購帶來之盈利增長。
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