You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》大摩升裕元(00551.HK)評級至「增持」 上調申洲(02313.HK)目標價至215元
阿思達克 05-26 11:57
摩根士丹利發表研究報告,指據該行AlphaWise調查,運動服趨勢將會持續,並超越一般衣著及鞋履市場。該行料有重大及增長中運動服業務敞口的代工生產商(OEM)長期收入增長及毛利趨勢有潛在上行空間。

大摩上調裕元國際(00551.HK)目標價由19.5元升至24.5元,此相當綜合市盈率15倍及2021年至2023年動態市盈率1倍,評級由「與大市同步」升至「增持」;另升申洲國際(02313.HK)目標價由180元升至215元|此相當預測今年市盈率38倍,維持「增持」評級。

該行認為運動服需求屬結構性,部分主要OEM去年疫情下收入仍持平,料今年收入可增長逾20%(如申洲、台灣儒鴻)意味需求維持韌性。該行料有由上至下的板塊輪轉,推動運動服OEM股份獲估值重評。

大摩表示,偏好服裝OEM多於鞋履OEM,並指申洲屬行業強勁趨勢最佳投資替代品;並指裕元在Adidas及Nike運動鞋業務有重大敞口,以及執行及盈利能力逐漸改善。

Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account