《大行報告》麥格理下調安踏(02020.HK)目標價至130元 評級「跑贏大市」
麥格理發表報告,下調安踏(02020.HK)2022年和2023年盈利預測7%和10%,主要基於對營業利潤率預期下降,預計今年上半年的零售銷售疲軟,因高階城市3月份的疫情封鎖對FILA和其他品牌有較大影響。儘管第二季可能出現高波動,仍預計下半年將出現復甦。
該行將安踏目標價從143元下調至130元,維持「跑贏大市」評級。
隨著包括高線城市在內的多個地區開始實施疫情防控措施,麥格理認為FILA將比安踏品牌承受更大的壓力。麥格理預計FILA今年收入增長11%。不過,該行讚賞管理層專注於推動具質素的增長和維持 FILA 的優質品牌定位。
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