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《大行報告》野村降世茂服務(00873.HK)評級至「中性」 削目標價至4.65元
野村發表研究報告指,世茂服務(00873.HK)早前宣佈向世茂股份(600823.SH)收購業管理業務相關資產及債務,在其母公司面臨流動性壓力的情況下,認爲收購的最終目標是向世茂集團轉移現金,以緩解其流動性壓力。 因此該行將世茂服務的評級下調至「中性」,並將目標價下調85%至4.65元,以反映市場對其母公司的流動性問題及向關聯方轉移現金流擔憂增加。 該行指,世茂服務已完成2021年全年擴張目標,總管理規模達2.34億平方米,簽約面積達3.04億平方米,認爲世茂服務的獨立擴張可帶來高質量增長動力,但對公司履行併購承諾及合理使用募集資金的情況表示擔憂。
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