[ET Net News Agency, 18 March 2021] Goldman Sachs lifted its target price for Shimao
Services Holdings (00873) to HK$27 from HK$22 and maintained its "buy" rating.
The research house said the PM (property management) industry is already in a race of
scale expansion through M&A. It believes Shimao Services is one of the most competitive PM
companies to achieve such success.
Goldman revised its 2021-23 EPS forecasts by 6%/17%/26% to mainly reflect its updated
scale growth and revenue mix. With the stock trading at 18x 2022 P/E against a 47% 2021-23
EPS CAGR (versus Goldman's PM coverage averages of 22x and 34% EPS CAGR, respectively),
the research house believes the market has undervalued a potential industry leader. (KL)
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00873 SHIMAO SERVICES
Nominal 
0.670 -0.040 (-5.634%) Research Report
18/03/2021 17:39
{I-bank focus}Goldman lifts Shimao Services (00873) to HK$27
| Remark: | Real time quote last updated: 20/09/2024 18:00 |
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