《大行報告》大和上調百勝中國(09987.HK)目標價至531.8元 評級「跑贏大市」
大和發表研究報告指,百勝中國(09987.HK)首季業績顯示復甦步伐穩健,在系統銷售額及同店銷售額分別按年增長34%及10%的支持下,首季經營溢利及淨利潤分別按年增長253%及271%。
當中肯德基品牌期內同店銷售額按年升5%,必勝客更升38%,已恢復至2019年同期即疫情前約94%及95%水平。該行指,在產品創新、吸引營銷活動的幫助下持續復甦,外送及外帶業務亦繼續增長。但管理層提到短期挑戰仍存在,指出內地消費信心依然疲弱,原材料價格及勞工成本上升將帶來一定壓力,轉用更環保包裝亦令成本增加。
大和表示,期內必勝客盈利能力提升,對百勝中國維持「跑贏大市」評級,並將2021至2023年每股盈測上調1%至3%,目標價由500元升至531.8元。
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