《大行報告》野村降綠城服務(02869.HK)評級至「中性」 削目標價至5.7元
野村發表評級報告指,綠城服務(02869.HK)上半年業績遜該行預期,上半年核心利潤按年跌16%至3.86億元人民幣,毛利率按年跌0.8個百分點至19.2%,主要是物業管理業務的毛利率按年跌0.6個百分點,及2C增值服務的毛利率則按年跌2.6個百分點。
該行表示,將公司2022至2024年盈利預測下調17%至22%,主要反映建築面積增長放緩、較低毛利率和較高營運費用,並料其盈利增長將持續慢過預期,受累執行往績疲弱,未達擴張目標及毛利趨勢倒退;相應將其目標價由9.9元下調至5.7元,將其評級由「買入」降至「中性」。
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