《大行報告》麥格理下調滔搏(06110.HK)目標價至13.6元 評級「跑贏大市」
麥格理髮表報告,指將滔搏(06110.HK)2022財年和2203財年的盈利預測分別削減11%和8%,以考慮到2022財年上半年疫情和對國際品牌抵制的影響。目標價由14.8元下調至13.6元,評級「跑贏大市」。
麥格理相信,滔搏的盈利仍具彈性,得益於與品牌客戶更緊密的合作關係和堅實的零售管理能力,預計2022財年上半年的收入將按年下降約1%,而同期同業寶勝國際(03813.HK)的收入則料按年下降9%,這是由嚴格的庫存控制和有紀律的零售折扣所帶動,預計利潤率大致穩定,料期內盈利按年下降3%左右。
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