《大行報告》瑞銀:偏好國企物管股多於民企 首選華潤萬象生活(01209.HK)及萬物雲(02602.HK) 升中海物業(02669.HK)評級至「買入」
瑞銀發表研究報告指,今年較看好國企物管股多於民企,首選華潤萬象生活(01209.HK)及萬物雲(02602.HK)。該行指,如果房地產銷售仍然疲弱,預計發展商將進行更多配股,料今年全國房地產銷售價值將按年下降15%。
根據2021至22年的土地市場份額,該行預計國有企業、地方政府融資平台、民營企業開發商的市場份額將分別從2021年的29%、5%、66%,變為40%、34%、26%。該行又認為,房地產發展行業從民企轉移到國企或地方政府融資平台的結構,可能使國企物管股更為受惠。因此,將中海物業(02669.HK)評級上調至「買入」,並將旭輝永升(01995.HK)和碧桂園服務(06098.HK)評級下調至「沽售」。
股份 | 投資評級 | 目標價
華潤萬象生活(01209.HK) | 買入 | 49.0→53.1港元
萬物雲(02602.HK) | 買入 | 53.5→70.7港元
保利物業(06049.HK) | 買入 | 76.8港元
中海物業(02669.HK) | 中性→買入 | 8.6→12.6港元
新城悅服務(01755.HK) | 買入 | 14.6→13.8港元
招商積餘(001914.SZ) | 中性 | 20.0→16.8人民幣
綠城服務(02869.HK) | 中性 | 8.0→6.1港元
雅生活服務(03319.HK) | 中性 | 8.0→11.7港元
金科服務(09666.HK) | 中性 | 11.0→15.6港元
中駿商管(00606.HK) | 中性 | 1.9→2.0港元
碧桂園服務(06098.HK) | 中性→沽售 | 15.2→14.6港元
旭輝永升服務(01995.HK) | 中性→沽售 | 5.4→3.4港元
恆大物業(06666.HK) | 沽售 | 1.1港元
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