《大行报告》大摩上调李宁(02331.HK)目标价至71元 评级「增持」
摩根士丹利发表报告指,与2019年首季相比,李宁(02331.HK)今年首季总零售销售(撇除李宁YOUNG)录得逾50%增长,而零售、批发及电商渠道分别增长近30%、逾40%及120%。
该行表示,首季销售表现强劲,令集团此两年的年均复合增长率高於2018年及2019年的平均增长。撇除早前新疆棉事件的利好,及新签代言人肖战令流量增加两个因素,该行认为集团首季属自然增长,并料可持续至第二季。
大摩上调李宁股份目标价,由64元升至71元,评级维持「增持」,并调升集团今明两年销售及盈利预测分别7%至9%和11%,预期集团今年第二季零售销售可录40%至50%的按年增长,上半年整体收入则增逾60%。
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