《大行報告》花旗降海底撈(06862.HK)目標價至23.8元 評級「中性」
花旗發表研究報告,指海底撈(06862.HK)為紓緩2019年下半年以來過快擴張帶來的財政及經營壓力,宣布史無前例的分店網絡重組計劃,在今年底前暫停或永久結束約300家不具效率的分店,並表示有意放緩開店步伐。
即使面對管理員工及重訂員工對「學徒計劃」下激勵計劃期望上存在經營挑戰,該行料其重組計劃明年將提振現存分店的轉檯率。撇除撥備,該行下調對其2021至2023年各年核心盈測分別64%、25%及27%,目標價由30.3元降至23.8元,評級「中性」。
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