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《大行報告》匯豐研究降周大福(01929.HK)評級至「持有」 上調目標價至18.2元
阿思達克 10-18 10:19
匯豐環球研究發表報告表示,雖然對周大福(01929.HK)增長前景充滿信心,但積極的催化劑可能已反映在目前股價中,因此該行下調對其投資評級,由「買入」降至「持有」,目標價由17.5元上調至18.2元,此相當綜合市盈率22.4倍(此前予20.4倍)。 該行指,由於納入公司較高的新銷售點而上調收入預測,但由於利潤率預期下降,所以將對周大福2022至2024財年的淨利潤預測略微下調1%至5%。 該行表示,由於周大福增長主要由利潤率較低的黃金產品和批發業務驅動,因此降低了內地的核心營業利益率假設,以反映產品和業務組合表現低於預期。
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