《大行报告》高盛调整物管股目标价 降中海物业(02669.HK)评级至「中性」
高盛发表研究报告指,虽然预期内地物业管理行业复合年增长率将由2020至2022年的43%,减慢至2021至2023年的31%,但考虑到获高盛覆盖的内地物管公司规模持续增长,预期相关物管股2023年每股盈利平均仍可按年增长24%。
报告指,主流物管商业务由住宅、商业拓展至政府物业,同时增值服务业务表现强劲,料收入将更多样化。该行指,物管商透过提升项目效率以增强盈利能力,加上利润率较高的增值服务业务占比增加及持续有新交付管理面积,预期至2023年利润率将保持稳定。
高盛将中海物业(02669.HK)评级由「买入」降至「中性」,目标价下调30%至7元,并重申对宝龙商业(09909.HK)、时代邻里(09928.HK)、碧桂园服务(06098.HK) 、新城悦服务(01755.HK) 、永升生活服务(01995.HK)及雅生活服务(03319.HK)的「买入」评级。
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