《大行報告》大和降思摩爾(06969.HK)評級至「跑贏大市」 目標價下調至36元
大和發表報告,指內地整治向未成年人銷售電子煙活動,加上正在進行的監管諮詢,將導致中國的電子煙銷售至少在今年上半年表現黯淡,而Vuse在美國的銷售量按年繼續放緩。該行認爲目前市場預期仍然過於樂觀,將思摩爾(06969.HK)的評級從「買入」下調至「跑贏大市」,目標價由60元下調至36元。
大和將思摩爾2021年至2023年的經調整淨利潤預測下調3%至11%,因爲對銷售量的估計比較保守,而且認爲市場對2022年中國業務增長的一致預期是不現實。
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