《大行报告》汇丰研究上调周大福(01929.HK)目标价至13.9元 评级「买入」
汇丰研究发表的报告指,据数据显示今年首两月内地珠宝零售销售按年升99%,主要受惠积压需求强劲,估计周大福(01929.HK)截至3月底的第四财季同店销售将按年增110%以上,高於管理层及该行原先预测。汇丰研究认为随着需求复苏,公司网络扩张亦跑赢原先目标,之前公司估计2021财年内地净开店450至500家,现时估计公司内地净开店将达681家,较公司原订目标上限高50%。
该行估计公司2021至2023财年净利润年复合增长将达13.7%,而收入年复合增长则为15.4%,增长及利润维持稳定,而公司在内地市场份额增长强劲,加上陆续渗透内地低线城市亦有助增长;假如公司可持续提升在内地市场份额,估计有望获重估,维持「买入」评级,目标价由12.5元升至13.9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.