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汇丰研究:下调欧舒丹(0973.HK)目标价至20港元 评级“买入”
格隆汇 09-19 11:17

汇丰研究发表研究报告,指投资者普遍忽视了欧舒丹(00973.HK)收购英国高级护肤及水疗品牌ELEMIS的效益,以及更强劲的核心增长。同时,在美国及香港受到宏观经济压力影响下,集团表现已相对具韧性。

报告指欧舒丹将于下月23日公布截至9月底止上半财年销售表现,在固定汇率下料有能力维持双位数增长,而首财季则录16%增长。汇丰料在ELEMIS的带动下,其下半财年及下财年表现将偏强,现价相等於2021年度(截至当年3月底止)预测市盈率近17倍,相对同业仍处合理水平,故维持评级“买入”

惟该行考虑到香港及美国的问题,将欧舒丹2020至2022年度每股基本盈利预测向下调整2%、1.9%及1.8%,分别达10欧仙、11欧仙及12欧仙,并将目标价由21港元降至20港元。

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