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麥格理:重申新秀麗(1910.HK)跑贏大市評級 目標價19港元
格隆匯 06-10 12:51

麥格理髮表報吿,重申新秀麗(1910.HK)跑贏大市評級,目標價維持19港元。

報吿指,雖然公司今年4-5月銷售由於亞洲出現第二波疫情低於預期,但公司資產負債表好於管理層預期,該行指仍對公司復甦步伐感到樂觀。報吿又指,北美方面,今年4-5月銷售仍低於2019年一半,亞洲銷售受第二波疫情影響,4-5月銷售較2019年低55%。在集團層面,由於美國重新開放和暑假,4月和5月的銷售額比2019年的水平下降了約57%,並且管理層最新預計,第二季度的銷售額將比2019年的水平低55%。

報吿又指,管理層對毛利率的復甦充滿信心,料在2021年底或2022年初實現50%左右目標,該公司看到高端品牌復甦更快,並將致力於產品再造,以便將原材料和運輸成本轉嫁給消費者。

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