《大行報告》瑞銀升綠城服務(02869.HK)評級至「中性」 目標價上調至9.1元
瑞銀發表研究報告指,自7月初起綠城服務(02869.HK)股價已累積調整約28%,主要由於第三方業務前景惡化及市場對公司增長預期過高,由於房地產銷售放緩、新開工和土地交易顯著下降,預計物管行業的新簽約建築面積將放緩或下降。
報告指出,現今市況下非國企開發商支持的物管公司可能遭受更大影響,因為估值與母公司信貸狀況直接掛鉤,認為綠城服務第三方業務投標仍保持競爭力,隨著更多開發商因流動性需要而出售物業管理業務,併購估值可能會下降,瑞銀期待公司未來在二級市場及城市服務的拓展。
該行相信,現時風險因素已充分反映在股價之上,認為公司具有增長潛力,將評級由「沽售」上調至「中性」,目標價由8.7元上調至9.1元。
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