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《大行报告》里昂下调普拉达(01913.HK)目标价至14.6元评级「沽售」
阿思达克 08-02 11:56

里昂发表研究报告,指普拉达(01913.HK)上半年收入及息税前盈利(EBIT)表现符合该行预期;受惠专利税项优惠约7,700万欧元单次性影响,纯利按年增长57%至1.55亿欧元。旗下品牌Prada及Miu Miu继续跑输同业,并反映在经营去杠杆化及核心盈利受压上。另批发业务理顺过程,或致下半年收入受压。里昂维持予其「沽售」评级,目标价由17元下调至14.6元。

该行引述普拉达管理层指,7月的零售表现约有中单位数增长,大致与6月的非减价货品一致,但里昂称,应继续留意减价促销所带来的影响。该行认为,减价促销的影响理应在2020年逐步消失。在批发方面,公司下半年正在理顺网络,以更好地控制定价及跨渠道品牌。

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