汇丰上调特步(1368.HK)目标价至6.5港元维持“买入”评级
汇丰发表研究报告称,特步国际(1368.HK)上半年业绩稳健,收入及盈利均同比增长23%,虽然收入增长逊同业李宁,但上半年表现领先不少国际品牌,相信是反映了公司品牌资产改善及市场定位,故调升特步国际目标价一成,由5.9港元上调至6.5港元,维持“买入”评级。

该行表示,管理层尝试令产品组合更多元化,并采取了与Wolverine成立合资公司、收购K-Swiss及Palladium,以及与篮球员林书豪签订赞助协议等措施。这可能会令公司的营运开支增加,并对近期盈利造成压力,但潜在的协同效应及相关品牌有助提升特步长远的竞争力。另外,公司的核心业务增长健康,为新业务发展提供强大的缓冲。
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