《大行报告》中金升李宁(02331.HK)目标价至68.98元 受惠本土运动品牌销售快速增长
中金发表报告,指李宁(02331.HK)(剔除李宁Young)後首季零售额按年增长80%至90%高段,预计较2019年首季有50%至60%的增长。分渠道看,中金预计线下零售、线下批发、电商渠道首季零售额较2019年首季分别实现约25%、约50%及超过120%的增长。
该行维持对李宁2021/2022年每股盈利预测0.92/1.18元不变,目前股价分别对应2021及2022年的市盈率为57及44倍,维持「跑赢行业」评级,考虑近期新强事件带动本土运动品牌销售额快速增长,提振估值水平,上调目标价16%至68.98元,对应50倍2022年市盈率,较目前股价有13.5%的上行空间。
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