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《大行報告》瑞信下調安踏(02020.HK)目標價至146元 評級「跑贏大市」
阿思達克 10-19 10:21
瑞信發表報告,指安踏(02020.HK)品牌第三季的零售額低段十位數增長,略低於該行估計的中段十位數增長,至於Fila中單位數增長亦明顯差過估計的低十位數增長,相信是受到疫情復甦、水災、供應鏈中斷和暖冬影響。 瑞信將安踏2021年、2022年、2023年的淨利潤預期分別下調5.3%、13.7%、16.1%,以反映低迷的需求。該行指,短期內看到了下行風險,但長期的需求和結構性增長前景仍保持,目標價由213元下調至146元,評級「跑贏大市」,並維持對體育用品行業謹慎態度,建議留意具防守性股份如申洲(02313.HK)。
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