《大行報告》裏昂下調新城悅服務(01755.HK)目標價至11.8元 評級「買入」
裏昂發表報告指,對新城悅服務(01755.HK)有三個擔憂,包括在缺乏實質性寬鬆政策的情況下,市場情緒疲軟;關注私人發展商支持的PMCs的信用度;進一步的減值損失風險。目標價由18.7元下調至11.8元,由於估值不高,重申「買入」評級。
裏昂指,在房地產行業的壓力下,管理層將中期目標調整爲中高增長速度。另外,該公司在中國發展商的美元債券中投資了7,000萬美元,在2021年的損益表上產生了1.26億元人民幣的公允價值損失。如果房地產市場持續疲軟,可能會產生額外的2,000萬美元公允價值損失。
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