《大行報告》摩通上調安踏(02020.HK)目標價至190元 評級「增持」
摩根大通發表報告指,安踏(02020.HK)爲中國最大的本土體育服飾公司,去年的市場佔有率爲15%。集團採取的多品牌策略可擴大客戶基礎,直接至顧客模式亦推動持續增長,加上有穩固管理執行力等,助其有強勁增長及良好盈利能力。
該行估計,集團今年的銷售及盈利可按年分別增長33%及45%,其中料「安踏」、「Fila」及其他品牌的銷售分別有28%、36%及48%增長,整體毛利率則預計可升3.5個百分點。
摩通將安踏股份目標價由142.8元升至190元,評級「增持」。
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