《大行報告》花旗降物管股目標價 反映內地房市疲弱
花旗發表研究報告指,基於中國房地產市場疲弱,銷售前景充滿挑戰且均價下調,加上房地產相關服務過剩和宏觀不利因素,下調多個物管股的目標價。
該行預期中國3月房地產行業表現將出現波動,因為雖然政策放鬆,但銷售持續疲軟;預計今年指引可能偏軟;面對交付挑戰;清盤申請及因延發財報而停牌的可能性等。整體而言,該行更偏好擁有強勁現金流和市場份額增長、並擁有優質土地儲備支持的公司。該行考慮到今年的指引可能會較保守及新樓銷售仍然疲弱,在股票選擇上對內房仍然保持謹慎。
花旗對物業管理股評級和目標價表列如下:
股份| 目標價(港元)
貝殼-W(02423.HK) | 買入 | 70.2元 → 54.8元
中海物業(02669.HK) | 買入 | 11.24元 → 8.8元
華潤萬象生活(01209.HK) | 買入 | 53元 → 33元
碧桂園服務(06098.HK) | 買入 | 11.5元 → 7.7元
綠城管理控股(09979.HK) | 買入 | 10.1元 → 7.3元
綠城服務(02869.HK) | 買入 | 5.6元 → 3.8元
龍湖集團(00960.HK) | 買入 | 18元 → 12.1元
萬物雲(02602.HK) | 買入 | 41.3元 → 23元
保利物業(06049.HK) | 買入 | 60.8元 → 38.8元
新城悅服務(01755.HK) | 買入 | 5.8元 → 3.5元
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