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大和:上調利福國際(1212.HK)目標價至8港元 疫苗接種令通關可期
格隆匯 03-03 17:04

大和發表研究報吿指,利福國際(1212.HK)去年下半年銅鑼灣店及尖沙咀店的銷售跌幅分別收窄至17.5%及31.7%;隨着香港展開疫苗接種計劃,內地與香港恢復通關將可期,故重申其“買入”評級,並將目標價由7.6港元,上調5.3%至8港元。

大和指,按年計,銅鑼灣Sogo今年首2個月同店銷售錄得輕微增長,惟尖沙咀Sogo在缺乏內地客下仍持續受挫,首2個月同店銷售按年下跌約50%。儘管限聚令有所放寬,但管理層預期今年上半年仍具挑戰,因消費情緒持續疲弱;公司將加強網店、CRM及產品組合。

大和又預期,公司旗下啟德項目將於2023年落成,零售分部將於同年開始營運;有關項目佔去年資本開支約12億元,今年則料為12至15億元。

該行下調利福國際今、明兩年每股盈利預測7至15%,以反映較低的同店銷售增長及相關銷售的去槓桿壓力。

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