麥格理:維持裕元集團(0551.HK)跑贏大市評級 目標價降至17.1港元
麥格理髮表研究報吿表示,將裕元集團(0551.HK)目標價由20港元削至17.1港元,維持“跑贏大市”評級。
報吿指,裕元通過更好的運營槓桿提高製造運營利潤率,但由於中國線下零售流量疲軟,部分被零售勝國際營業利潤率的下降抵消,預計零售營業利潤率將逐步改善。製造業務繼續提供連續改進應該有助於推動重新評級。該行將今年及明年的盈利預測分別下調6%和5%。

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