《大行報告》瑞銀降復星國際(00656.HK)目標價至4.7元 反映按市價入賬資產價值
瑞銀發表評級報告指,復星國際(00656.HK)管理層重申其精簡策略和去槓桿化,並強調在過去兩年進行一系列非核心資產處置,改善其流動性,這令其資產組合變得更簡單、傾向輕資產、以及更加集中,在未來兩年,其淨負債率或由近期的73%跌至約50%水平。該行預料,復星估值維持壓縮狀況,直至直至中國經濟勢頭回升,其簡化營運的計劃成功執行,而股東派息可持續增加。
該行將其目標價由6.3元下調至4.7元,反映今年預測每股資產淨值折讓65%,維持其評級為「中性」。(ca/cy)
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