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匯豐研究:下調新秀麗(1910.HK)目標價至20港元 評級“買入”
格隆匯 01-29 11:27
匯豐環球研究發表報告指,去年9月曾討論過中美貿易問題、旅遊業萎縮使美國業務疲弱,及香港社會環境等對新秀麗(1910.HK) 的股價造成壓力,而目前有關的宏觀因素仍然帶來壓力,即使中美簽署了首階段貿易協議,但集團仍在美國徵收25%關税的範圍,雖然集團正在減少自中國的採購,但預期其毛利率在今年下半年難以看到任何改善。
該行又指,現時新秀麗在香港未能獲得任何租金優惠,而近期最主要的憂慮為內地爆發新型肺炎,集團股價在過去一週因此而回調了13%。匯豐研究下調對新秀麗股份目標價,由23港元降至20港元,評級維持“ 買入 ”。
該行預期,集團去年盈利表現仍然受壓,預料以固定匯率計的銷售將按年下跌1.5%,EBITDA利潤率則按年下跌230個基點至13.8%。

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