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高盛降體育用品股盈測及目標價 李寧及安踏續挫4.3%-5%
阿思達克 02-24 15:52
體育用品股安踏(02020.HK)及李寧(2331.HK)遭高盛降盈測及目標價,前者三連跌,今天股價失守20天及10天線(68.95元及69.5元),最低見65.7元,現造66.4元,急挫5%,成交續增至1,554萬股;後者兩連跌,股價同樣失守10天及20天線(22.98元及23.1元),最低見21.8元,現造22.1元,續跌4.3%,成交急增至2,383萬股。 中國動向(03818.HK)跌3.7%報0.79元,股價失守10天及20天線;滔博(06110.HK)低見10.12元,現造10.2元,續跌2.7%。寶勝(03813.HK)續跌2.8%曾低見2.03元創逾半年低。 高盛表示,因應近期銷售下跌及經營去槓桿毛利壓力,加上消化庫存額外成本,將其覆蓋之體育用品股今年盈利預測下調21%-65%,明年盈測下調4%-14%,以反映今年上半年起潛在店舖擴張延遲及高庫存水平導致潛在訂單延遲的因素。 該行預計安踏及李寧、寶勝及滔搏首季銷售按年跌12%-26%,要到今年6月銷售才可回復正常。不過,該行相信,內地體育用品市場仍有結構性需求增長,目前情況可能帶動行業整合,對行業龍頭公司有利,因而維持李寧、安踏、寶勝及滔搏「買入」評級,但普遍降目標價,安踏目標價由88.2元降至84元,李寧由33.7元降至32.4元,寶勝則由3.6元降至3.2元。
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