《大行報告》大和上調歐舒丹(00973.HK)目標價至38元 評級「買入」
大和發表報告,重申歐舒丹(00973.HK)「買入」評級,目標價由36元調高至38元。而由於樂觀的經營利潤率假設,將2022至2024財年的每股盈利預測提高3%。
大和引述管理層在投資者電話會議上表示,雖然各主要市場爆發Omicron,但L’Occitane en Provence和ELEMIS的銷售增長勢頭在1月保持穩固。而近幾個月中國的消費者情緒有所減弱,但由於強大的線上渠道和在高端護髮產品方面的領導地位,以及香水方面的強勁增長,其表現繼續優於行業。
管理層認爲,新產品類別護髮和香水、直接面向消費者的渠道、零售合作夥伴網絡和國際擴張可以釋放出進一步的銷售增長。在2022財年第三季度的穩健表現之後,預計2022財年的淨銷售增長將達到15%至16%,營業利潤率將達到15%至16%。
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