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《大行報告》美銀證券下調周大福(01929.HK)目標價至8.6元 市佔率提升重申「買入」評級
阿思達克 04-15 09:55
美銀證券發表報告表示,周大福(01929.HK)截至3月底止上財年第四財季內地及港澳市場同店銷售按年分別下跌50%及65%,該行估計其3月份同店銷售已較2月份有所改善,3月的改善,尤其是內地業務,為市場帶來正面驚喜。

周大福公布集團截至今年2月底止11個月的未經審核營業額及核心經營溢利分別下跌11至13%及7至9%,較該行預期為佳,因此上調其2020年度營業額及核心經營溢利預測分別4%及10%,至收益按年下跌16%至560億元,及核心經營溢利按年跌22%至55億元;在新型肺炎疫情的不明確因素下,估計其年度股息將降至18仙。

該行下調周大福2022財年每股盈測7%,以反映環球衰退風險令復甦速度慢過預期,故目標價相應由9.2元降至8.6元,重申「買入」評級,相信在現時下行市況下,受惠強勁品牌及市場領導地位,其市佔率將進一步提升。

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