《大行报告》野村上调安踏(02020.HK)目标价至180.2元 评级「买入」
野村发表研究报告指安踏(02020.HK)核心品牌零售销售於首季录40%至45%按年增长,Fila录75%至80%增长,其他品牌增长115%至120%,相信疫情的因素影响已完成,管理层指新强棉花事件对公司有利,带动第二季销售势头超预期,该行调升今年销售预期3.6%,预期增长率38.9%。
该行指,因应新强棉花事件,国际品牌在内地提供折扣以赚回顾客,而在安踏而言,提供的折扣已回复至疫情前水平,核心安踏品牌为27%,Fila为22%,库存亦见改善。该行调升2021至23年毛利率预期0.2至0.3个百分点,重申「买入」评级,目标价由145.2元升至180.2元。
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