《大行報告》大和升JS環球生活(01691.HK)目標價至30.5元 評級「買入」
大和發表研究報告指,對內地小型家電行業評級由「正面」降至「中性」,觀察到居家抗疫需求正在減褪,以及原材料成本上升壓力。該行建議投資者要審慎選股,並揀選經沽售後基本面穩健、估值具吸引的股份,該行指以JS環球生活(01691.HK)為行業新首選股份。
該行指,JS環球生活旗下具強勁產品線、及新市場需求帶動的海外增長持樂觀看法,維持對其「買入」評級,目標價由25.5元升至30.5元,相當於今年預測今年市盈率33倍。
大和稱,JS環球生活宣布增持附屬九陽(002242.SZ)權益由59%擴至67%,料助力盈利加速及促進更佳協同效應。大和上調JS環球生活2021至2022年每股盈測介乎19%至21%,以反映收入及毛利估算更新及少數權益因素。
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