《大行报告》瑞银上调裕元(00551.HK)目标价至17.59元 评级「中性」
瑞银研究报告引述裕元(00551.HK)管理层指,预期今年代工业务复苏,而公司生产线调出中国的主要调整已在去年完成,预料未来仅有小量调整,并带来有限的相关一次性成本。
管理层今年策略着重高端订单多於大众化市场,预期今年产能不会回复至2019年水平,同时公司计划在越南和印尼厂房重新聘请员工,料产能只会稳步渐进增加。
该行又指,裕元的零售分支宝胜(03813.HK)於去年第四季的库存水平已回复正常。作为主要零售商,宝胜可在品牌库存分享项目受惠,有关计划将不同区域线上线下库存连结。该行调升裕元目标价,由16.02元升至17.59元,评级维持「中性」。
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