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《大行报告》美银证券升雅居乐(03383.HK)评级至「买入」 多元化策助市场重估
阿思达克 09-18 11:20
美银证券发表报告将雅居乐(03383.HK)投资评级,由「中性」升至「买入」,对其目标价由11.6元上调24%至14.4元。

该行指,雅居乐快速推进多元化业务策略,潜在分拆业务可释放价值,有助市场对其重估,其发展物业业务亦能录快速回报。

美银证券预计雅居乐旗下非发展物业业务(占毛利润的20%以上)将带来更高的利润贡献。潜在的多元化业务分拆(如园林绿化和装饰,环保),可能会通过为这些新业务增加资金回笼有助其去杠杆化,监於这些新公司的估值较高,可以解锁部分应有价值,上调2021/22年度盈测1%/6%,料2019-22年每股盈利复合增长12%。

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