《大行报告》大和上调李宁(02331.HK)目标价至67元 评级「买入」
大和发表报告指李宁(02331.HK)首季零售流水按年增长逾80%表现强劲,主要由於成功推出中高端价格区间的产品、当红明星代言效应、新疆棉花事件、4月推出一系列有影响力的营销活动等。
该行指,李宁目前产品的零售折扣已基本回复至疫情前的正常水平,而一些明星代言的产品折扣更不到5%。
大和表示,对李宁所有渠道的收入假设都持乐观态度,相信其在中国消费升级和运动休闲趋势中处於有利地位,决定对其2021至2023年度的每股盈利上调6%至7%,对其12个月目标价由56.5元上调至67元,此相当预测市盈率48倍,重申「买入」评级。
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