You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》匯豐研究上調百勝中國(09987.HK)目標價至588.1元 評級「買入」
阿思達克 10-29 10:13
匯豐研究發表報告,相信新冠疫情對百勝中國(09987.HK)的影響是暫時性,通過加速品牌組合的門店擴張,業務前景仍然穩固。目標價由573.3元升至588.1元,評級「買入」。 報告指,考慮到今年下半年公司的表現疲軟,將全年收入和淨利潤預測分別降低3%和32%。然而,在考慮到9月收購杭州飲服股權後,合併了700間肯德基門店,以及明年的同店銷售料恢復到2019年的水平,因此將明年的收入預測提高1.6%。 該行預計,隨着同店銷售恢復,肯德基的利潤率將在明年完全正常化。加上非肯德基品牌盈利能力的提高,預計百勝中國調整後的經營溢利率將由今年的8.9%提高到2023年的12.6%,從而使其2021年至2023年的調整後淨利潤率料有45%的年複合增長率,而銷售額的年複合增長率料爲18%。考慮到公司咖啡業務加速推廣帶來的初期虧損,把2022年淨利潤預測比之前調低10%。
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.
uSMART
Wealth Growth Made Easy
Open Account