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富瑞:予周大福(1929.HK)目標價8.97港元 評級“買入”
格隆匯 04-14 16:34

富瑞發表研究報告指,周大福(1929.HK)今年第四季中國內地,香港及澳門同店銷售增長均符合該行預期,首十一月的主要經營溢利更較預期為佳,粗略計算,今年3月份,周大福的同店銷售在中國內地及香港分別下降50%和70-75%,跌幅較2月收窄,並相信有關數據將持續改善至4月份,予目標價8.97港元及“買入”投資評級。

富瑞表示,隨着金價上升等因素,相信今年周大福的主要經營溢利將高於市場預期,另外今年周大福新增675間店鋪,當中大部分店鋪位於中國內地,符合公司目標,但隨著勞動力減少及市場信心下降,認為明年開店步伐將會放緩,但相信周大福將可維持原有的派息比率。

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