高盛:予绿城服务(2869.HK)目标价8.4港元 评级“中性”
高盛发表研究报告指出,绿城服务(2869.HK)最坏时刻已经过去,公司现正处于恢复阶段,给予目标价8.4港元,评级为“中性”。
高盛将绿城服务2019年的每股盈利预测调低10%,但明、后两年的预测则每年调升3%,以反映2019年度较高的有效税率、营业额较预期低和略高的增值服务利润率。
高盛估计,下半年绿城服务的物管业务所管理的面积将会增加,可使公司全年物管服务按年增长约25%,比上半年的22%加快。不过,管理层预测受季节性因素影响,下半年物管业务的毛利率会比上半年低,全年增值服务毛利率可回升至28-30%。
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