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《大行報告》匯豐研究上調JS環球生活(01691.HK)目標價至29元 評級「買入」
阿思達克 04-07 15:49
匯豐研究發表的報告指,JS環球生活(01691.HK)早前於3月1日發盈喜,而3月31日公布的業績顯示去年下半年其收入及EBIT分別較該行預測高14%及13%,主要受惠SharkNinja勢頭強勁,去年下半年相關收入增長加快至72%,而EBIT利潤率亦擴張至15.8%,主要受惠毛利率及經營效率改善,相信業績表現強勁反映其增長策略見效。

該行指出公司今年利潤將受原材料、貨運成本及關稅等影響,不過估計其增長強勁有助抵銷利潤受壓的影響,加上公司有採取措施維持利潤,包括是提價、改善產品組合、提升協同效應、減少包裝量並將生產線由中國移至其他東南亞地區等。該行將公司2021年EBIT利潤率預測降至11.5%,以反映毛利率較低的影響,但對其盈利預測則大致不變,主要考慮到其收入增長較高。該行維持對公司「買入」評級,目標價由27.3元升至29元,以反映對收入增長預測提升。(el/a) ~

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