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港股異動 | 彩生活漲6.61% 估值極具吸引力
格隆匯 11-06 14:49
格隆匯11月6日丨彩生活(1778.HK)漲6.61%,報4.68港元,成交3864萬港元,總市值66.6億港元。

摩根大通日前發佈研報稱,由於增速放緩,彩生活自從IPO後估值一直在下降。雖然我們同意彩生活的估值較同類企業來講應該有所折價,因為增速放緩以及缺少來自於強大地產商的支持。但是對於一傢俱備穩定增長前景的公司來講,7倍PE這種估值水平太低了。
基於公司未來穩定的增長前景(2018-2022年淨利潤年複合增長率20%)以及超過90%的續約率,該行不認為目前的估值水平是估值陷阱。首次覆蓋彩生活,給予買入評級,目標價8港元。
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