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大行評級|摩根大通:維持中海物業“增持”評級 目標價9港元
中海物業終止以9.5億元向同系公司中國建築興業收購通信工程諮詢業務,摩通發表報吿指,相信消息對股價利好,因為有關決定反映管理層願意聆聽投資者的聲音並修正錯誤。以寶龍商業為例,2022年6月宣佈終止向母公司寶龍地產收購上海物業後,單日股價大升8%,因此預期中海物業股價亦有正面反應。摩通指,公司10月公佈該項收購後兩日內,股價下跌27%,主要因為目標公司的增長前景不明朗,交易市盈率較公司整體市盈率為高,收購作價似乎亦不合理。公司終止收購估計對財務影響有限。該行指,中海物業主要股東中海外集團是首十位國營房企,具有強勁支持,加上管理層更加積極管理利潤率趨勢,競投第三方項目亦更加進取,相信三年的盈利複合年增長率超過20%,明年預測市盈率9倍,估值吸引,維持“增持”評級,目標價9港元。
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