《大行報告》花旗降頤海國際(01579.HK)目標價至31.2元 評級「沽售」
花旗發表研究報告指,海底撈(06862.HK)計劃在今年底前關閉300家門店,預期將對頤海國際(01579.HK)的關聯方銷售產生重大影響,海底撈的隱含成本壓力亦將轉嫁予頤海,導致利潤率受壓。
花旗指出,頤海的第三方銷售在標準化基礎上已恢復增長,但尚未達到管理層訂下20%至30%的增長目標。
由於關聯方業務收入及利潤率預期下調,該行相應將2021至2023年盈利預測下調5%至7%,並將收入預測下調4%至7%,目標價由32.9元降至31.2元,維持「沽售」評級。
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