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里昂降H&H国际(1112.HK)目标价至55港元维持“买入”评级
格隆汇 08-22 14:20
里昂发表报告指,H&H国际(1112.HK) 上半年业务表现较预期疲弱,惟乐见H&H国际续投资于品牌及市场推广,相信对业绩表现为短期阵痛,随着中国相关监管收紧,H&H国际代理之瑞士品牌中期有望提升市占率。
该行指,不过代购活动持续及第三季高基数或仍会影响短期业绩表现,该行降H&H国际2019年至2021年核心EBITDA预测10%至12%,决定下调对其目标价,由64港元下调至55港元,维持“ 买入 ”评级。
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