《大行報告》大摩下調泡泡瑪特(09992.HK)目標價至36元 評級「增持」
摩根士丹利發表報告表示,維持泡泡瑪特(09992.HK)「增持」評級,但降低公司近期預測,因其上半年盈利下降反映業務受到了新冠疫情的影響。
該行補充,低估了疫情對泡泡瑪特的影響,當中包括主要客戶群即16至24歲的失業率上升,以及消費降級等。但該行相信公司的核心優勢和創造力仍然保持不變,並有不少推動公司業務發展的增長舉措,包括海外擴張、主題公園、新產品、視頻遊戲和動畫。
大摩預計,泡泡瑪特今明兩年銷售分別增長24%和25%,今年經調整淨利潤按年下跌17%,但明年則增長47%。將其明年目標市盈率由37倍降至35倍,目標價由55元降至36元。
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