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《大行报告》汇丰研究升欧舒丹(00973.HK)目标价至28元 评级「买入」
阿思达克 02-10 16:04
汇丰研究发表报告指欧舒丹(00973.HK)近期股价上升後,锁定利润的吸引力增加,但该行称,随着经营模式转变,料有更大上行空间。该行曾指出在乐观情境下,集团经营利润率最终将可达至15%水平;即使在外汇因素趋负面下,现时有多个理由相信最快在两年内可超额完成。

报告称,欧舒丹旗下高利润业务、英国抗衰老护肤品牌Elemis支持公司表现。另实体店转向线上店提振利润率,即使以後疫情消褪,上述转变仍会持续。再者,出乎意料,经过多年谈判後,公司就美国零售业务申请破产保护。这将有助公司退出许多亏损业务,并更多投入於合理经营地区。

汇丰大幅上调欧舒丹经营利润率预测,料今年EBIT增长可达23%,未来两年录高单位数增长,目标价由24元升至28元,评级「买入」。

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