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匯豐研究:升歐舒丹(0973.HK)目標價至28港元 評級“買入”
格隆匯 02-17 13:17

匯豐研究發表報吿指,歐舒丹(0973.HK)近期股價上升後,鎖定利潤的吸引力增加,但該行稱,隨着經營模式轉變,料有更大上行空間。該行曾指出在樂觀情境下,集團經營利潤率最終將可達至15%水平;即使在外匯因素趨負面下,現時有多個理由相信最快在兩年內可超額完成。

報吿稱,歐舒丹旗下高利潤業務、英國抗衰老護膚品牌Elemis支持公司表現。另實體店轉向線上店提振利潤率,即使以後疫情消褪,上述轉變仍會持續。再者,出乎意料,經過多年談判後,公司就美國零售業務申請破產保護。這將有助公司退出許多虧損業務,並更多投入於合理經營地區。

匯豐大幅上調歐舒丹經營利潤率預測,料今年EBIT增長可達23%,未來兩年錄高單位數增長,目標價由24元升至28元,評級“買入”

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