《大行報告》大和上調申洲(02313.HK)目標價至134元 評級「買入」
大和發表研究報告指出,申洲(02313.HK)上半年的業績大致好過預期,收入及純利分別較該行預期高出2%及12%,主要是因為Uniqlo及Adidas的訂單強勁,以及毛利率表現具韌性。更重要的是,隨著市佔率增速加快,公司多年來都錄得雙位數的盈利增長,認為其溢價估值合理,繼續是該行在紡織股板塊中的首選。
該行將申洲2020年的每股盈利預測上調17%,以反映公司的訂單入帳速度較預期快,並將2021至2022年的每股盈利預測上調8%,以反映其在疫情後的市佔率增長。
大和上調對申洲未來12個月目標價由原來的112元上調至134元,此相當預測市盈率27倍,重申「買入」投資評級。
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