《大行報告》瑞信:安踏(02020.HK)上季零售銷售符預期 重申「跑贏大市」評級
瑞信發表研究報告指出,安踏(02020.HK)去年第四季零售額按年錄得10%至20%中段增長,而FILA品牌零售額實現高單位數增長,大致符合該行預期。由於冬季氣候較和暖及疫情復燃影響需求,上季其他品牌零售額增長放緩至30%至35%。
此外,瑞信指安踏還發盈喜,料去年收入按年增長超過35%,純利增長逾45%(瑞信預期增長48%)。管理層維持2022年指引不變,有信心達至年均複合增長率18%至25%的長期目標。
該行指出,雖然2022財年上半年需求可能仍表現低迷,但仍看好安踏長期前景及公司執行能力,尤其是發展其他品牌方面。重申「跑贏大市」評級,目標價145.59元。
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