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《大行報告》匯豐研究上調新秀麗(01910.HK)目標價至23元 評級「買入」
阿思達克 06-21 10:06
匯豐環球研究發表研究報告指出,儘管面臨包括全球破紀錄的高通脹、美國衰退憂慮、中國部份地區「封城」及俄烏戰爭等多項宏觀挑戰,但料旅遊復甦似乎保持良好勢,指。經過超過兩年的需求壓抑,相信報復式旅遊需求將會「如火如荼」。 該行認為,疫情威脅消退,很多地區正放寬邊境入境限制。隨著國際旅遊持續復甦,預示新秀麗(01910.HK)今年管理層指引的內生銷售將較2019年水平下跌15%至20%,經調整EBITDA毛利率14%至16%(mid-teen)水平。 此外,匯豐研究預期,新秀麗第二季的銷售持續改善,雖然中國部份地區「封城」,但料公司經營槓桿仍然強勁。維持對其「買入」評級,2022至2024財年的經調整EBITDA預測上調約4%,目標價由21元升至23元,認為公司盈利正從低谷反彈。
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