《大行報告》野村下調海底撈(06862.HK)目標價至46.6元 評級「買入」
野村發表報告,將海底撈(06862.HK)目標價由82.6元大幅下調至46.6元,相當於預測2022財年市盈率53倍,與主要同業九毛九(09922 HK)一致。
野村指,由於海底撈今年上半年的淨利潤指引遠低於預期,而且火鍋行業的復甦速度也慢於預期,將其2021和2022財年的盈測分別下調22.6%和10.2%,以反映該行將2021財年的翻桌率假設從4.1次下調至3.6次,以及2020至2021財年積極的門店擴張帶來的成本增加。
不過,野村重申海底撈「買入」評級,認爲目前的股價已經在很大程度上計入了今年上半年的疲軟表現,而且隨着消費者信心的回升,翻桌率可能逐步改善。該行期待管理層在中期業績電話會議上分享一個更堅實的業務計劃。
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.