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《大行報告》瑞信下調泡泡瑪特(09992.HK)目標價至43.7元 評級「跑贏大市」
阿思達克 07-18 11:12
瑞信發表評級報告指,泡泡瑪特(09992.HK)發盈警,預料上半年收入按年增不少於30%,其盈利則按年下跌不少於35%,意味着集團首季呈強勁銷量增長按年增65%至70%,但次季均未達到銷量及利潤目標。 該行將今年開設零售新店數字預測由105間下調至80間,自助售賣機則由290間下調至200間,並預計零售店鋪、網店及自助售賣機銷量分別按年增31%、38%及9%,其毛利率由62%收窄至60%。 該行表示,疫情影響拖累線上及線下銷售,以及因原材料、新業務及經營去槓桿,令利潤率承壓,故將公司今年、明年及2024年的各年盈利預測下調27%、21%及17%,並將其目標價由55元下調至43.7元,維持評級「跑贏大市」。(ca/k) ~
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