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《大行報告》麥格理輕微上調呷哺呷哺(00520.HK)目標價至9.6元 評級「跑贏大市」
阿思達克 05-18 10:26
麥格理發表研報指,呷哺呷哺(00520.HK)透露至上月底已有逾900家分店恢復營業,收入正逐步恢復,惟各地區復甦步伐有所不同。

該行預期,與其他首季停業的同行一樣,相信呷哺呷哺首季將會錄得虧損,然後逐漸復甦。隨著3月中旬起逐步復工,用餐業務已開始復甦,疫情亦推動外賣業務增長,年初至今交易額增長十數個百分點,對比去年同期增長約5%,5月的勞動節假期內,業務進一步恢復至正常水平約70%至80%,但預期北京等地區防疫措施較嚴格,復甦步伐將較慢。

麥格理預計,呷哺呷哺可透過良好的庫存管理措施,穩定原材料供應及成本,將2020及2021財年收入預測分別下調66.4%及上調2.6%,維持「跑贏大市」評級,目標價由9.3元輕微上調至9.6元,相當於2021財年預測市盈率約22倍。

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