《大行報告》中金降安踏(02020.HK)目標價27%至159.49元 FILA長線增長放慢或影響估值
中金發表研究報告,指內地零售環境嚴竣,壓抑安踏體育(02020.HK)短期增長,但長線展望仍佳,下調今明兩年每股盈測分別8%及18%,以反映第三季零售銷售放緩,以及零售環境嚴竣。該行對其長遠品牌增長仍樂觀,維持「跑贏行業」評級,目標價降27%至159.49元,認為FILA長線增長放慢或影響估值。
報告稱,安踏品牌第三季零售銷售穩固增長,管理層維持全年逾20%的增長指引。另FILA品牌線下銷售增長慢過預期,主因基數較高以及宏觀經濟不明朗,管理層指引全年零售銷售增20%至25%。此外,其他品牌線上及線下零售銷售維持高增長。
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