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《大行報告》摩通下調特步(01368.HK)目標價至4.8元 評級「增持」
阿思達克 03-23 10:45
摩根大通發表研究報告,指在特步(01368.HK)發布業績後的投資者會議上,很高興得知其員工信託自去年3月份起開始購買公司股份,以顯示公司對長期業務的信心。

在會議上,投資者關注到疫情對於其零售水平的影響;新品牌的海外覆蓋及發展目標等。該行將公司2020至2022年的盈利預測下調7至9%,以反映來自應收賬款減值、支持分銷商租金支付及推廣活動的開支。最新目標價由原來的5.3元下調至4.8元。

該行指,沒有企業能在疫情爆發中置身事外,但仍對公司的中長期前景感到有信心,主要是基於在市況下行時行業有所整合、公司在三年轉型中具有改進設計及執行能力;與新的國際品牌有協同效應。維持「增持」投資評級。

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