《大行報告》麥格理下調安踏(02020.HK)目標價至143元 評級「跑贏大市」
麥格理髮表研究報告,指安踏體育(02020.HK)公佈去年末季銷售更新及初步盈利預告,如按綜合基準,包括分佔合營公司虧損影響,預期去年股東應佔溢利將按年增長不少於45%,符該行預期。
該行表示,維持予安踏「跑贏大市」評級,目標價由144元微降至143元,指目前估值相當預測明年市盈率20倍,對比過去三年曆史平均值爲31倍。
該行認爲安踏自去年起股價調整後,估值變得更合理,由於今年上半年旗下Anta及FILA品牌仍面對高基數,料公司正進行所需要投資以鞏固品牌定位,產品類擴張,以及產品創新。
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