《大行報告》麥格理下調高鑫零售(06808.HK)目標價至4.05元 評級「跑贏大市」
麥格理髮表研究報告,指由於高鑫零售(06808.HK)銷售疲軟,將其2022至2024財年每股盈測分別下調41%、23%和15%,2022財年下半年持平的同店銷售目標面臨下行風險。該行將高鑫零售目標價由4.8元下調至4.05元,評級「跑贏大市」。
麥格理認爲,同店銷售下降和疫情反覆將影響高鑫零售的運營和租金收入,公司在疫情下需要關店,而且或需要向租戶提供補貼。該行將2022財年的毛利率預測從之前的0.7%下調至0.4%,意味着2022年度下半年淨利潤爲2.82億元人民幣,而2021財年上半年淨利潤爲12.53億元人民幣。
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