《大行報告》野村升安踏(02020.HK)目標價至150.6元 庫存正常化後今年前景佳
野村發表報告表示重申對安踏體育(02020.HK)「買入」評級,上調目標價由139.1元升約8%至150.6元,此相當預測2021財年市盈率40倍或動態市盈率1.27倍,與國際同業估值一致,指現股價相當於預測2021財年市盈率37.5倍。
該行指,從安踏去年第四季業績顯示其庫存水平已正常化,料今年毛利率來迎來擴張水平,估計來自Amer溢利於今年改善,並相信公司已具良好定位及擁多元品牌,在長線提升市場份額。
野村料安踏於2020年至2022年純利預測各為53.38億、83.41億及101.49億人民幣。
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