招银证券:给予绿城管理控股(09979.HK)“增持”评级 目标价9.39港元_全球微头条
来源:同花顺金融研究中心     时间:2023-05-19 20:25:00


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招银证券5月18日发布公告。Maintain BUY with TP unchanged at HK$9.39. Given company’s dominant market share (26% in 2022), asset light model, stable order growth (est. +20% in 2023E), strong profit growth (est. ~25-30% in 2023E) and exceptionally high dividend pay-out ratio (>80%), we maintain BUY with TP unchanged at HK$ 9.39, reflecting 18x 2023E PE. Catalysts: successfully signing of FI projects in batch, and higher-than-expected 1H23 earnings. Risks: worse-than-expected macro, and lower-than-expected demand.

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