You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》花旗上調海底撈(06862.HK)目標價至55元 評級「中性」
阿思達克 12-03 09:47
花旗發表研究報告指,海底撈(06862.HK)翻檯率回復至3.5至4倍,同店翻檯率亦回復至去年10月80-90%水平,相信11月可維持,雖然各地區復甦步伐不一致,但整體同店銷售和翻檯率亦大致符預期,認為經營環境在11-12月有改善,年底數字可回復至90%。

該行指,公司下半年重新啟動擴張,在今年新增430-450間分店,其中上半年為173間,管理層指因應今年有更多合適的地段,而且租務條約吸引,相信今年至少增加500間店(之前目標超過400間),有助明年收入提升。

該行表示,公司正溫和地降低每間分店的員工數目至約100人(之前約120-150人),預期會維持在現有水平,但10月份人工平均提升10-15%,相信未來會隨著科技應用、管理效率等而降低;自第三季起,公司獲減免租金的數字減少,但今年新店的開業較被動,有助降低未來租金成本。公司同時降低向頤海(01579.HK)採購費,有助減少毛利壓力。

該行升海底撈明年盈利預測10%,以反映今年的新店開張,目標價由32.7元升至55元,評級維持「中性」。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account