《大行報告》花旗上調莎莎(00178.HK)目標價至0.92元 評級「沽售」
花旗發表報告,表示由於內地業務虧損擴大,莎莎國際(00178.HK)截至3月底止財年淨虧損錄3.44億元,較對上財年所錄3.51億元淨虧損稍微收窄,惟遜於該行預測。
該行表示,鑑於本地需求和年初至今的銷售數據,管理層料香港現財年銷售將穩定回升,並目標未來三年網上銷售錄得40%增長。至於盈利能力方面,受惠於獨家品牌銷售佔比增加,管理層目標在2023財年達42%的毛利率,從而達至收支平衡。
花旗表示,毛利率改善具有一定挑戰,而考慮到首季疲軟,料2023財年將續錄虧損,惟虧損料有所收窄,2024財年有望扭虧,將其目標由0.9元上調至0.92元,維持其評級為「沽售」。
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