《大行報告》瑞信升安踏(02020.HK)目標價至58.3元維持「中性」評級
瑞信發表報告指,安踏體育(02020.HK)在沽空機構渾水發第五份沽空報告後公布盈喜,預期今年上半年收入及經營利潤分別錄得35%及50%的按年強勁增長,較市場預期高5%及7%。
該行表示,雖然安踏上半年表現穩健及優於預期,但仍然預料進入今年下半年及明年,其增長勢頭將會放慢,主要由於高基數及休閒運動服市場的競爭激烈。瑞信預計,集團旗下「Fila」品牌的收入增長將由今年上半年的60%至65%,放慢至下半年的增長約50%,及明年的增長約30%。
瑞信表示,上調對安踏今明兩年的盈利預測分別4.6%及4.9%,以反映上半年表現較預期為佳。此外,股份目標價由55.5元上調至58.3元,維持「中性」評級。
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