You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》大和升特步(01368.HK)評級至「買入」 目標價上調至4.5元
阿思達克 03-19 09:55
大和發表研究報告指,特步(01368.HK)去年淨利按年下跌29.5%,較該行預期高出7%,並較市場預期高13%,主要是由於調整對渠道附屬的會計處理後的增值稅得益影響。特步去年收入持平,達到近82億元人民幣,其中主品牌銷售額按年下跌8%。毛利率下跌至39.1%,相信是由於回購存貨及會計準則改變等所致。

大和認為,今年首兩個月主品牌錄得50%按年增幅,較2019年同期相比亦有中單位數升幅,期內折扣已恢復正常,管理層預期存貨水平至年底可回落至4至4.5個月,至於新品牌K-Swiss及Palladium亦預期虧損將收窄。

該行指,雖然前景未明,但相信最壞的情況已過去,將評級由「持有」升至「買入」,目標價上調至4.5元。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account