《大行報告》摩通下調高鑫零售(06808.HK)目標價至4元 評級「增持」
摩根大通發表報告,下調對高鑫零售(06808.HK)的預測,以反映2022財政年度業績,因此將目標價由10.5元下調至4元,維持評級「增持」。
摩通表示,由於社區團購引發的激烈競爭以及疫情爆發,導致多家商店關閉,該公司的股價在過去18個月中一直處於低位,不過認為是時候重新審視高鑫零售,因為目前競爭正在緩和,疫情的影響正在逐漸消退,市場在很大程度上已經消化了負面催化劑,但低估了重新開放商業活動時銷售的可能上漲空間。
該行估計,高鑫零售今年4月和5月在上海的銷售可能會按年持平。管理層指,將通過加強其多渠道戰略和升級價值鏈,冀中期淨利潤率目標為1%,隨著業務逐步復甦,長遠目標為2%-3%。
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