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《大行報告》中金下調金科服務(09666.HK)目標價至53元 評級「跑贏行業」
中金髮表報告指,金科服務(09666.HK)控股股東金科地產(000656.SZ)引進博裕投資作爲公司戰略投資者,將其22%持股轉讓予博裕旗下的Broad Gongga Investment。完成後,金科地產於公司持股將由目前52.33%降至30.33%。 該行表示,公司是次引入具質素的戰略投資者,博裕爲內地的另類資產管理機構,金科地產以37.3億元或每股26元轉讓持股,相當於今年預測市盈率13倍。完成交易後金科地產仍是公司最大及控股股東。金科地產同時保證未經博裕同意未來五年不會減持。 中金認爲,金科地產又承諾支持金科服務的業務,會將超過九成的非商場發展項目在管面積交予公司,加上其他支持,預期或會令金科服務的收入增加。 該行維持對金科服務今明兩年盈利預測,料分別增長81%及47%,至11.2億元及16.4億元人民幣,並維持股份「跑贏行業」評級。不過由於市場風險胃納下降,目標價則下調28%至53元。
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