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《大行報告》裏昂下調周黑鴨(01458.HK)目標價至6.6元 今年爲另一挑戰年
阿思達克 04-06 10:33
裏昂發表報告指,周黑鴨(01458.HK)去年銷售按年上升32%至28.7億元人民幣,較該行預期低2%。至於盈利按年增長126%至3.42億元人民幣,較該行預測高5%。而集團目標今年門店增長1,000間,今年首季已開超過200間。 該行認爲,今年會是周黑鴨另一挑戰之年,預料其盈利會錄得12%下跌,淨利潤率則降2.2個百分點,主要由於疫情令銷售下跌、大宗商品通脹、爲特許經營店提供更多財務支援,及銷售去槓桿。 裏昂下調周黑鴨目標價,由8.7元降至6.6元,相當預測未來12個月市盈率18倍,維持「買入」評級,並調低集團今明兩年收入預測分別24%及22%,盈利預測亦降低52%及41%。
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