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《大行報告》大摩下調JS環球生活(01691.HK)目標價至15元 評級「增持」
阿思達克 03-25 09:42
大摩發表評級報告指,即使JS環球生活(01691.HK)最近有所反彈,目前股價仍意味其今年淨利潤介乎2.76億美元至3.31億美元,較2020年低4%至20%,預計較2021年低17%至31%,亦低於該行預期的按年10%增長。 即使宏觀經濟仍有波動,全球小家電(SDA)同行最近評論表明今年行業會有穩定的前景。該行分析,假設JS環球生活今年股價較主要海外上市SDA同行折讓40%至50%,相當於今年預測市盈率9倍(同行平均25倍),是全球最低之一。 該行將公司在2022年至23年收入預測下調10%至13%,經調整後每股盈利下調15%至28%,並將目標價由20元下調至15元,降幅25%,目標市盈率由16倍下調至14倍,料公司今年收入及淨利潤分別有2%及10%增長,維持其「增持」評級。(ca/u) ~
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