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《大行报告》野村指欧舒丹(00973.HK)同店销售增长仍乏善可陈目标价下调至14.5元
阿思达克 06-18 11:05

野村发表研究报告指,欧舒丹(00973.HK)2019财年纯利按年升23%至1.18亿欧元,较该行及市场预期高13%及9%,主要由於美国减税导致有效税率由2018财年的29.0%降至期内20.7%。

不过,该行指公司2019财年在大部分主要市场同店销售增长仍乏善可陈,美国市场持平,日本跌0.3%,香港跌2.6%,法国跌2.1%,中国增长亦由2018财年的15.1%放缓至期内6.9%。该行预期2020财年公司核心品牌收入仅按年增长3.5%。

该行将欧舒丹2020/2021财年盈利预测上调6%及5%以反映较佳销售,目标价由14.6元降至14.5元,维持「中性」评级。

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